Moody’s Corporation announced today that it has acquired insurance analytics provider Praedicat. Moody’s said the acquisition adds comprehensive casualty and liability modeling to its range of market-leading solutions for the insurance industry, further enhancing the company’s overall risk assessment strategy.

Praedicat’s models and predictive analytics help insurers and reinsurers navigate risks associated with catastrophic events, including product and environmental liabilities. Moody’s said it will integrate Praedicat’s capabilities into its existing suite of insurance solutions, providing casualty insurance industry customers with a holistic approach to understanding their risk exposure.

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

The terms of the transaction were not disclosed. Moody’s said the transaction will not have a material impact on its 2024 financial results.