Moody’s Corporation has acquired Praedicat, the California-based provider of casualty insurance analytics.

The company said the acquisition adds comprehensive casualty and liability modelling to Moody’s range of market-leading solutions for the insurance industry, further enhancing its overall risk assessment strategy.

It added that Praedicat’s models and predictive analytics help insurers and reinsurers navigate 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 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 chief executive of Moody’s.

“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.”

Moody’s said the transaction builds on its 2021 acquisition of RMS and advances the company’s investments in new analytics and growth in the casualty market.

The terms of the transaction were not disclosed.