KatRisk expands global cat modelling capabilities through RED acquisition

Catastrophe risk software provider KatRisk has acquired RED, a specialist provider of catastrophe models, including earthquake, flood, landslide, and wind risk models.

According to KatRisk, the acquisition of RED accelerates the development of a high-fidelity U.S. earthquake model and strengthens multi-peril catastrophe modeling portfolio for insurers, reinsurers, and financial institutions.

The company also revealed that RED’s European earthquake model will be integrated into SpatialKat, allowing clients to seamlessly gain access to earthquake risk data alongside KatRisk’s other perils in the near term.

In addition, KatRisk’s existing strengths within flood, tropical cyclone wind, severe convective storm (SCS), and in the near future wildfire, are further enhanced with the addition of RED’s proven European earthquake platform and complementary climate peril models.

Furthermore, KatRisk explained that its acquisition of RED reinforces its commitment to advancing innovation, deepening technical expertise, and expanding global reach.

By combining their established capabilities in North America and Europe, KatRisk and RED seek to expedite the creation and provision of a highly accurate U.S. earthquake model.

Martyn Sutton, general manager of KatRisk, commented: “Customers are asking for a consistent, multi-peril suite of models from a single trusted provider. By bringing RED into the KatRisk family, we can extend our footprint into earthquake and continue to raise the bar on the quality and speed of catastrophe modeling available to the market.”

Paolo Bazzurro, co-founder at RED, said: “Our teams share a common mission: to enhance resilience to climate, weather, and geophysical hazards through improved science and advanced analytical tools.”

In late 2024, KatRisk was acquired by Technosylva, a company focused on wildfire simulation modeling, risk analysis and operational response software solutions.