Moody’s has acquired Barrie & Hibbert, the provider of risk management modelling tools, as it shores up its data management, capital calculation and regulatory reporting platform.
“Barrie & Hibbert has built a strong reputation for its specialised expertise and unique product offerings for insurance risk management,” said Mark Almeida, president of Moody’s Analytics.
“Adding Barrie & Hibbert’s skills and experience to Moody’s Analytics expands our ability to help insurers meet worldwide solvency modernisation initiatives including Solvency II and other regulatory challenges, and reinforces our commitment to assisting financial institutions as they address a growing array of risk management needs.”
“We are pleased to be joining a dynamic organisation that is recognised as a global leader in helping financial institutions manage risk. The combination of Moody’s Analytics and Barrie & Hibbert will benefit our clients by providing them with a broader and more robust set of tools and services to assess financial risk and respond to regulatory requirements,” said Andy Frepp, CEO of Barrie & Hibbert.
Moody’s purchased Barrie & Hibbert for £50m (US$77.6m), and the acquisition was funded from cash on hand.
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