Praedicat’s models and predictive analytics are designed to assist insurers and reinsurers in managing risks from catastrophic events. Credit: Abdul Momin Photographer/Shutterstock.

Credit ratings and research services provider Moody’s has acquired Praedicat, a casualty insurance analytics provider.  

Financial details of the transaction were not revealed.  

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This move aims to bolster Moody’s insurance industry offerings by adding comprehensive casualty and liability modelling to its suite of solutions.  

Praedicat’s models and predictive analytics are designed to assist insurers and reinsurers in managing risks from catastrophic events, including product and environmental liabilities.  

Moody’s plans to integrate these capabilities into its existing insurance solutions, offering customers a more holistic view of their risk exposure.  

Moody’s president and CEO Rob Fauber said: “As losses from catastrophic events are increasing, insurers are constantly looking for science-based casualty data and analytics. Praedicat’s industry-leading liability modelling enhances our data and analytics capabilities to deliver actionable insights that will help the casualty insurance industry customers navigate the complex risk landscape.” 

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In a blog post, Praedicat CEO and co-founder Robert Reville said: “The core of Praedicat’s solution is translating emerging risk into company risk. Moody’s market-leading data on global companies and technologies to extract, combine and deploy the data will allow us to expand our solution to cover the globe with precision and high accuracy.  

“Among exciting new capabilities planned are loss modelling for public and private D&O [directors’ and officers’] insurance, global loss estimates for general liability insurance, and robust capabilities for portfolio loss modelling delivered into the underwriting, pricing and reserving workflows.” 

This acquisition follows Moody’s 2021 purchase of RMS, furthering its investment in analytics and strengthening its foothold in the casualty insurance market. 

The acquisition is not expected to materially affect Moody’s financial results for 2024.  

Earlier this year, UK reinsurance company MS Amlin partnered with RMS to improve its exposure management and modelling capabilities.  

This alliance involved integrating RMS applications such as Exposure IQ, Risk Modeler and Treaty IQ into MS Amlin’s operations to transform the company’s underwriting division with advanced catastrophe risk insight solutions. 

Furthermore, in April, RMS collaborated with reinsurance broker Augment Risk to support the parametric risk transfer market through syndication among various capital sources.