Moody’s Corp. has acquired Barrie & Hibbert Limited, a provider of risk management modeling tools for insurance companies worldwide.
The acquisition broadens Moody’s Analytics suite of software solutions for the insurance and pension sectors. In addition, Barrie & Hibbert’s offerings 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.
Moody’s purchased Barrie & Hibbert for GBP 50 million (USD $77.6 million), and the acquisition was funded from cash on hand. Reflecting the unfavorable impact of purchase accounting and integration costs, the transaction is expected to be several cents dilutive to Moody’s GAAP earnings per share in 2012.
“Adding Barrie & Hibbert’s skills and experience to Moody’s Analytics expands our ability to help insurers meet worldwide solvency modernization 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,” said Mark Almeida, president of Moody’s Analytics.
Based in Edinburgh, Scotland, Barrie & Hibbert will be integrated into the Moody’s Analytics Risk Management Software segment.