CoreLogic, a California data analytics firm, has added catastrophe modeling firm EQECAT from its parent company ABS Group. The terms of the said transaction were not yet disclosed, according to Insurance Journal.
Alyson Austin, spokesperson for CoreLogic, said the deal was completed on December 20. Austin also said for now, the company is not providing more details but will do so as part of its full year 2013 financial report that will be released in early 2014, the report said.
The EQECAT acquisition is part of CoreLogic's expansion in the insurance, property data, and analytics arena, the report added.
CoreLogic is presently based in Irvine, California. The firm provides data and analytics services for the insurance, financial, and real estate industries, the report detailed.
ABS Group is a wholly owned subsidiary of marine and offshore classification society ABS. The company was founded in 1862. At present, the ABS Group is headquartered in Houston, Texas, Insurance Journal reported.
Join the Conversation