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Moody’s highlights One Moody’s approach on Gothaer flood cat bond

The insurer-linked deal involved Moody’s rating unit assigning a Baa2(sf) rating to EUR 100 million notes for Yardstick Re DAC.

Reported · Written up by our desk · Reinsurance

Moody’s Corporation CEO Rob Fauber pointed to its “One Moody’s” strategy during the company’s second-quarter earnings call, citing Moody’s dual role as both a credit rating agency and catastrophe risk modelling provider for a German insurer transaction.

Fauber said Moody’s Rating team assigned a Baa2(sf) rating to EUR 100 million Series 2026-1 Class A notes issued by Yardstick Re DAC, while Moody’s Analytics’ Insurance unit produced third-party risk modelling and analysis to support the flood risk transfer.

The CEO framed the transaction as an example of Moody’s bringing strengths from its business units together to capture opportunities in insurance-linked securities, and he connected the work to the size of the insurance protection gap.

Fauber also cited company results, saying Moody’s Analytics Insurance generated $183 million of revenue in the second quarter, up 9% year over year, and that Insurance annual recurring revenue reached $723 million at June 30, also up 9%.

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