Swiss Re Aquires Fathom

Swiss Re has aquired Fathom, a global leader in flood and climate risk data and modelling, adding the reinsurers flood peril data and risk capabilities and adressing a leading driver of increasing nat cat losses globally. Fathom will retain its own brand and continue its well-established research activities. Swiss Re data flood related events accounted for upwards of 12% - 30 percent above the ten year average - of an estimated USD 100 billion insured losses in 2023, globally.

"We are very pleased to join forces with Fathom in our quest to narrow the protection gap for natural catastrophe risks, such as floods. Fathom's market-leading research and innovative tools in this area create great synergies with Swiss Re's risk knowledge and digital capabilities. I'm thrilled to welcome the Fathom team to the Swiss Re organisation and look forward to a successful collaboration" said Russell Higginbotham, CEO of Swiss Re Reinsurance Solutions.

Stuart Whitfield, CEO of Fathom, said: "We are committed to helping organisations around the world to analyse, understand and respond to flood risk and the changing climate landscape. Thanks to the strong alignment between our ethos and approach, I'm excited to see us work together with Swiss Re Reinsurance Solutions to bring our sophisticated risk insights to even more customers and help deliver greater global resiliency. This transaction represents a further key step in helping us achieve our vision of becoming the gold standard in the provision of water risk intelligence."

Insurance sector transactions in the risk data, modelling and technology space continue to expand as differentiation in risk management becomes increasingly essential to profitable underwriting in segments and markets that face growing climate-related risks.

Source: Swiss Re, https://www.swissre.com/press-release/Swiss-Re-acquires-Fathom-a-leader-in-water-risk-intelligence/4af5e0d7-e065-404a-b80d-6f32955f0fbe