Insurance broker WTW reported its acquisition of Butterwire, a provider of data analytics, artificial intelligence and machine learning platforms.
Based in Glasgow, Scotland, the financial analytics company will become a part of WTW’s Climate and Resilience Hub.
Terms were not disclosed.
According to David Nelson, senior director at WTW’s WTW’s Climate and Resilience Hub, Butterwire’s team has been working closely with WTW’s team for a number of years. Butterwire’s research, data science and software engineering professionals complement WTW’s wider climate and investment services. Using these capabilities, WTW clients will be able to manage climate-related financial risks at scale and speed.
Butterwire software already incorporates WTW’s proprietary Climate Transition Value at Risk methodology, which quantifies the anticipated impact on equity and fixed-income valuations of aligning with the goals of the Paris Agreement. The company also provides the platform underpinning the STOXX Climate Transition Indices, launched by WTW in 2021 to help investors, governments and companies manage climate transition risk, capture opportunities in their portfolios and work towards net zero targets.
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