NEW YORK:
Moody’s Corporation announced that it has completed its acquisition of RMS, which was announced on August 5, 2021. RMS is a leading global provider of climate and natural disaster risk modeling and analytics.
The acquisition expands Moody’s insurance data and analytics business and accelerates the development of the Company’s global integrated risk capabilities to address the next generation of risk assessment.
With over 400 risk models covering 120 countries, RMS is a global provider of climate and natural disaster risk modeling serving the global property and casualty (P&C) insurance and reinsurance industries.
For the fiscal year ending September 30, 2021, RMS is expected to generate revenue of approximately $320 million and adjusted operating income of approximately $55 million.
Karen White, RMS chief executive officer, called Moody’s is an “exceptional fit” for RMS and its customers. “Global risks are now more complex, connected and systemic. Climate change and catastrophic events like extreme weather, pandemics and cyberattacks have broader and more harmful impacts across virtually all industries. We share the vision to bring a global, integrated risk assessment platform to our markets with the goals of deeper, more sophisticated risk insights and greater global resiliency,” White said