KatRisk acquires RED Risk

KatRisk acquired catastrophe modeling specialist RED, adding earthquake, flood, landslide, and wind models to its platform.

The deal expands KatRisk’s multi-peril capabilities and gives it a stronger position in earthquake risk, including plans to integrate RED’s European earthquake model into SpatialKat and accelerate development of a U.S. earthquake model. RED’s offerings complement KatRisk’s existing work in flood, tropical cyclone wind, severe convective storm, and wildfire modeling.

KatRisk, a Technosylva company founded in 2012, provides catastrophe risk modeling tools for insurance, reinsurance, and financial services clients. RED develops disaster impact assessment tools used to measure exposure to climatic and geophysical risks.

“Customers are asking for a consistent, multi-peril suite of models from a single trusted provider. By bringing RED into the KatRisk family, we can extend our footprint into earthquake and continue to raise the bar on the quality and speed of catastrophe modeling available to the market.” – Martyn Sutton, General Manager of KatRisk.