Fitch gets OpVar loss database with NetRisk purchase

NEW YORK - Fitch Risk Management, part of rating agency Fitch, said in mid-July it was acquiring NetRisk and its subsidiary OpVantage, both Connecticut-based risk management companies.

The acquisition, the price of which was not disclosed, was described as "an excellent strategic fit" by OpVantage president and chief executive Daniel Mudge. "This gives us access to a wealth of information and research and more resources to expand our products," he said.

OpVantage was set up last year when professional services firm PricewaterhouseCoopers and NetRisk merged their op risk services, resulting in OpVar, the operational loss database.

OpVar version 4.0 maps data to the Basel II

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