Moody’s Corporation announced today that it has acquired Barrie & Hibbert Limited, a leading provider of risk management modeling tools for insurance companies worldwide. The acquisition was valued at GBP 50 million (USD $77.6 million), and was funded from cash on hand.
The acquisition broadens Moody’s Analytics suite of software solutions for the insurance and pension sectors. With more than 150 customers around the world, Barrie & Hibbert’s Economic Scenario Generator (ESG) is widely recognized as an industry standard for valuing and projecting assets and liabilities and assessing risk and capital positions.
In addition, Barrie & Hibbert’s offerings and expertise in understanding the risks in long-term asset and liability management will enhance Moody’s data management, capital calculation and regulatory reporting platform to further meet the needs of institutions as they undertake risk management and regulatory compliance activities.
Based in Edinburgh, Scotland, Barrie & Hibbert will be integrated into the Moody’s Analytics Risk Management Software segment, which includes a range of award winning products used by financial institutions around the world.
The strategic rationale of the deal is to further enhance Moody’s analytics capabilities and to obtain deep industry insights in distinct market verticals such as insurance.
Source: Moody’s Press Release