Moody’s buys Toronto actuarial software company

GGY had $28 million in annual revenue last year

Moody’s has acquired GGY, a Toronto-based actuarial software company active in the life insurance industry.

“The addition of GGY’s powerful actuarial solutions significantly extends Moody’s Analytics’ capabilities for our insurance customers,” said Mark Almeida, President of Moody’s Analytics.

Read: Inside the minds of actuaries

“GGY’s products are widely used throughout the life insurance industry, and offer best-in-class analytical capabilities and flexible deployment options that provide significant cost and operational risk reductions.”

The terms of the transaction weren’t disclosed.

GGY had $28 million in annual revenue last year.

Copyright © 2017 Transcontinental Media G.P.
Transcontinental Media G.P.