Menu

Reinsurance News

Flood modeller Fathom secures Moody’s investment

9th September 2021 - Author: Charlie Wood

Flood risk modeller Fathom has announced a minority investment from Moody’s Corporation, the global risk assessment firm, in a deal described by the former as huge recognition for its work in the space.

The deal will see Moody’s assume one seat on its board of directors.

“National and regional economies, insurers and financial services all need flood mapping data they can rely on, as the impact of flooding can have extremely serious physical, financial and environmental consequences today, that will further be exacerbated by climate change and urbanisation,” said Christopher Samson, co-founder at Fathom.

Samson also noted his delight in having Moody’s recognise and understand the potential of the company.

Fathom, which in the last year has launched flood risk models for both the US and UK, was advised on the deal by ICON Corporate Finance

RMS

“Our team of scientists and researchers constantly push the boundaries of flood mapping and risk data,” said Andrew Smith, co-founder at Fathom.

“Moody’s in-depth industry knowledge will help us to reach new markets and countries where this detailed level of flood data is urgently required.”

Commenting on the investment, Stuart Whitfield, CEO of Fathom added, “Moody’s investment in Fathom is further testament to the quality of Fathom’s underlying technology and data.

“This will enable us to accelerate our plans to become the world’s leading provider of water risk intelligence.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
AXA XL announces two senior promotions in North America

AXA XL's North America Construction business has promoted Ray Allen and Jim Richert to lead its Construction Professional and Subcontractor...

Close