Moody's has completed the acquisition of Scotland-based Barrie & Hibbert to help broaden its analytics suite of software solutions for the insurance and pension sectors.

The $77.6m transaction enables Moody’s access to Barrie & Hibbert’s Economic Scenario Generator for valuing and projecting assets and liabilities and assessing risk and capital positions.

Moody’s Analytics president Mark Almeida said that adding Barrie & Hibbert’s skills and experience to Moody’s Analytics expands their ability to help insurers meet worldwide solvency modernization initiatives including Solvency II and other regulatory challenges.

The acquisition was funded from cash on hand and is expected to be several cents dilutive to Moody’s GAAP earnings per share in 2012.

Barrie & Hibbert, which provides risk management modelling tools for insurance companies will be incorporated into Moody’s Analytics Risk Management Software business unit.