Data analytics company CoreLogic has confirmed its acquisition of catastrophe modeler Eqecat.
Terms of the transaction were not disclosed.
“I can confirm that CoreLogic acquired Eqecat on Dec. 20, 2013,” Alyson Austin, CoreLogic's senior public relations manager, told PC360. “Although I don't have more information available today, CoreLogic management anticipates sharing more information about this acquisition as part of its fourth quarter and full year 2013 financial results to be released in early 2014.”
Eqecat's Risk Quantification & Engineering (RQE) risk modeling platform includes 180 natural hazard software models for 96 countries spanning six continents.
The Insurance Insider was the first to report discussions between the two firms.
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