Leading cat risk modelling firm put up for sale

RMS (Risk Management Solutions), which provides advanced modeling solutions for insurers, reinsurers, and other organisations, is being offered for sale by its ultimate parent Daily Mail and General Trust plc (DMGT) following a "number of enquiries from third parties".

DMGT has confirmed that it is in discussions in relation to the sale of its insurance risk division RMS. "While discussions are ongoing, there can be no certainty that a transaction will result," it said.

The board of DMGT believe that the disposal of RMS would generate a premium for its shareholders, and mark a "significant milestone" in the transformation of DMGT.

DMGT noted that if the terms are agreed, completion of the sale is expected to take place in the third quarter of 2021.

RMS helps evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics. The company's modeling solutions and cloud platforms are used by several leading re/insurers for better business decision making across risk identification and selection, mitigation, underwriting, and portfolio management.

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