Swiss Re publicizes acquisition of Fathom

Swiss Re has introduced the acquisition of Fathom, a UK-based firm specializing in water threat intelligence and flood modeling to boost the capabilities of the agency’s Reinsurance Options division, notably in managing flood-related dangers, that are a major contributor to escalating losses from pure catastrophes worldwide.

Swiss Re’s newest knowledge reveals a major safety hole within the reinsurance business’s protection of financial losses as a result of pure catastrophes. In 2023, the business lined roughly 40% of those losses. Swiss Re estimates that pure catastrophes have resulted in US$100 billion in insured losses this 12 months, with flood-related occasions accounting for not less than US$12 billion. This determine represents a greater than 30% improve over the annual common of the previous decade.

Fathom’s experience in superior knowledge modeling and sturdy instruments contributes to a deeper understanding of flood impacts on varied entities. By becoming a member of forces with Swiss Re Reinsurance Options, Fathom good points entry to Swiss Re’s intensive consumer community and experience in pure disaster threat administration.

Because of this acquisition, Fathom will preserve its model id and proceed its established analysis actions, whereas benefiting from Swiss Re’s international presence and experience within the area of reinsurance and pure disaster threat administration.

“We’re very happy to hitch forces with Fathom in our quest to slim the safety hole for pure disaster dangers, comparable to floods. Fathom’s market-leading analysis and modern instruments on this space create nice synergies with Swiss Re’s threat data and digital capabilities. I’m thrilled to welcome the Fathom crew to the Swiss Re group and stay up for a profitable collaboration,” Swiss Re Reinsurance Options CEO Russell Higginbotham mentioned.

“We’re dedicated to serving to organizations around the globe to investigate, perceive and reply to flood threat and the altering local weather panorama. Because of the sturdy alignment between our ethos and strategy, I’m excited to see us work along with Swiss Re Reinsurance Options to carry our refined threat insights to much more clients and assist ship larger international resiliency. This transaction represents an additional key step in serving to us obtain our imaginative and prescient of turning into the gold commonplace within the provision of water threat intelligence,” Fathom CEO Stuart Whitfield mentioned.

What are your ideas on this story? Please be at liberty to share your feedback under.