07:34 AM EDT, 07/03/2024 (MT Newswires) -- CGI (GIB) said Wednesday it has collaborated with Munich Re's Risk Management Partners unit to reduce the effect of climate change on insurers' business models.

Financial terms of the partnership weren't disclosed.

Munich Re, a German insurance firm, will consolidate its Location Risk Intelligence platform with CGI's climate risk mitigation services, the company added.

Additionally, CGI said it will also manage the Location Risk Intelligence platform's delivery to clients.

Shares of the company were up 1.4% in recent Wednesday premarket activity.

Price: 102.75, Change: +1.37, Percent Change: +1.35