PERILS to acquire Canada-based CatIQ.

PERILSS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, agreed to acquire Canada-based CatIQ, a provider of catastrophe loss and exposure information. Financial terms were not disclosed. Commenting on the acquisition, Luzi Hitz, CEO of PERILS, said: “We are delighted to be announcing our agreement with CatIQ. The firm’s excellent market reputation and steadfast commitment to enhancing the industry’s understanding of Cat risk has enabled it to secure the support of the majority of the Canadian general insurance market. Acquiring CatIQ is in line with our mission to increase data availability and strengthens our ability to provide state-of-the-art Cat intelligence and industry loss triggers, helping boost the efficiency of re/insurers, modelers and others as well as the specialised risk transfer market.”