The financial terms of the transaction have not been disclosed, but Moody’s has stated that the deal will not materially impact its 2024 financial results.
With this acquisition, Moody’s is adding Praedicat’s casualty and liability modelling capabilities to its suite of solutions for the re/insurance industry, enhancing its risk assessment offerings. Praedicat, based in California, provides predictive analytics and modelling that help insurers and reinsurers manage risks linked to catastrophic events such as product and environmental liabilities.
Moody’s plans to integrate Praedicat’s expertise into its existing range of insurance solutions, offering casualty insurers a comprehensive approach to assessing risk exposure.
Rob Fauber, President and Chief Executive Officer of Moody’s, commented: “As losses from catastrophic events continue to rise, insurers are increasingly seeking science-based casualty data and analytics. Praedicat’s industry-leading liability modelling strengthens our ability to provide actionable insights that will help the casualty insurance sector navigate today’s complex risk environment.”
