Swiss Re acquires UK flood model firm Fathom

Swiss Re has acquired Fathom, a provider of water risk intelligence and flood models, based in Bristol, UK.

The reinsurer said the deal will offer it expertise and a robust set of products, complementing its own data and risk capabilities in the field of flood perils – a major driver for constantly rising losses from natural catastrophes globally.

Russell Higginbotham, CEO of Swiss Re Reinsurance Solutions, said: "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."

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."

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.