NEW YORK, September 05, 2024–(BUSINESS WIRE)–Moody’s Corporation (NYSE:MCO) today announced the acquisition of Praedicat, a leading provider of property and casualty insurance analytics. The acquisition expands Moody’s industry-leading insurance solutions with comprehensive property and casualty modeling, enhancing its overall risk assessment strategy.
Praedicat’s models and predictive analytics help insurers and reinsurers manage risks associated with catastrophic events, including product and environmental liabilities. Moody’s will integrate Praedicat’s capabilities into its existing suite of insurance solutions, providing property and casualty insurance clients with a holistic approach to understanding their risk exposures.
“As losses from catastrophic events increase, insurers are constantly looking for scientific data and analysis on various risks,” said Rob Fauber, Moody’s Chairman and CEO. “Praedicat’s industry-leading liability modeling strengthens our data and analytics capabilities to provide actionable insights that will help property and casualty clients navigate the complex risk landscape.”
This transaction builds on Moody’s acquisition of RMS in 2021 and advances Moody’s investments in new analytics and growth in the property and casualty insurance market.
Terms of the transaction were not disclosed. The transaction will not have a material impact on Moody’s financial results in 2024.
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ABOUT MOODY’S CORPORATION
In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights and innovative technologies help clients develop a holistic view of their world and create opportunities. With deep global markets experience and a diverse workforce of approximately 15,000 people in more than 40 countries, Moody’s provides clients with the global perspective they need to act confidently and thrive. Learn more at moodys.com.
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“SAFE HARBOR” DECLARATION UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody’s business and operations that involve a number of risks and uncertainties. These statements involve estimates, projections, targets, forecasts, assumptions and uncertainties that could cause actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. Shareholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information contained herein are made as of the date of this document and Moody’s undertakes no obligation (or intends) to publicly supplement, update or revise any such statements in the future, whether as a result of subsequent developments, changes in expectations or otherwise, except as required by applicable law or regulation. Under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Moody’s identifies certain factors that could cause actual results to differ materially from those indicated in these forward-looking statements. These factors, risks and uncertainties include, but are not limited to: the impact of general economic conditions (including significant levels of government debt and deficits, inflation and monetary policy actions taken by governments in response to inflation) on global credit markets and economic activity, including the volume of mergers and acquisitions, and their effects on the volume of debt and other securities issued in domestic and/or global capital markets; the uncertain effectiveness of and potential collateral consequences of U.S. and foreign government actions and monetary policy in response to the current economic climate, including financial institution instability, credit quality concerns and other potential impacts of financial and credit market volatility; the overall impacts of the Russia-Ukraine military conflict and the military conflict in Israel and surrounding regions on global financial market volatility, general economic conditions and GDP in the United States and internationally, international relations, and the Company’s own operations and personnel; other matters that may affect the volume of debt and other securities issued in domestic and/or global financial markets, including regulation, the increased use of technologies that may increase competition and accelerate disruption and disintermediation in the financial services industry, and the number of issuances of unrated securities or securities rated or rated by non-traditional parties; the level of merger and acquisition activity in the United States and abroad; the uncertain effectiveness of and potential collateral consequences of actions by U.S. and foreign governments affecting credit markets, international trade and economic policy, including those related to tariffs, tax agreements and trade barriers; the impact of MIS withdrawing its credit ratings on countries or entities within countries and Moody’s ceasing its business operations in countries where political instability warrants such actions; market concerns affecting our credibility or affecting the market’s perception of the integrity or usefulness of independent credit agency ratings; the introduction or development of competing and/or emerging technologies and products; pricing pressure from competitors and/or customers; the degree of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the jurisdictions in which we operate, including the EU; exposure to litigation related to our rating opinions, as well as any other litigation, governmental and regulatory proceedings, inquiries and investigations to which Moody’s may be subject from time to time; provisions of U.S. law changing pleading standards and EU regulations changing liability standards for rating agencies in a manner adverse to rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of the supervisory mandate to include non-EU ratings used for regulatory purposes; uncertainty regarding future U.S.-China relations; the potential loss of key employees and the impact of the global employment environment; failures or malfunctions of our operations and infrastructure; any vulnerability to cyber threats or other cybersecurity issues; the timing and effectiveness of any restructuring programs; currency and exchange rate volatility; the outcome of any examination by tax authorities of Moody’s global tax planning initiatives; exposure to potential criminal penalties or civil remedies if Moody’s fails to comply with applicable foreign and U.S. laws and regulations in the jurisdictions in which Moody’s operates, including data protection and privacy laws, sanctions laws, anti-corruption laws and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions, such as the acquisition of RMS, or other business combinations and Moody’s ability to successfully integrate acquired businesses; the level of future cash flows; levels of capital investment; and a decrease in demand for credit risk management tools by financial institutions. These and other factors, risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail in the “Risk Factors” section of Part I, Item 1A of Moody’s Annual Report on Form 10-K for the year ended December 31, 2023, and in other filings the company makes from time to time with the SEC or in documents incorporated herein or herein. Shareholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties could cause the company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material adverse effect on the company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors or assess the potential effect of any new factors on it. Forward-looking statements and other statements contained herein may also relate to the Company’s progress, plans and objectives with respect to responsibility (including sustainability and environmental matters), and the inclusion of such statements does not imply that their contents are necessarily material to investors or required to be disclosed in the Company’s filings with the Securities and Exchange Commission. Historical, current and forward-looking statements relating to sustainability may also be based on standards for measuring progress that are still being developed, internal controls and processes that continue to evolve and assumptions that are subject to change in the future.
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Moody’s Corporation
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Moody’s Corporation
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