31 August, 2017 11:30
Photo : Freepik
SCM insurance Services (SCM) has just received an investment majority from funds affiliated with Warburg Pincus, an international private investment, which has more than 44 billions of US$ in assets under private management. The terms of the transaction remain confidential.
Combined with the continued investment of TorQuest Partners, this major investment will inject an important capital in the MLP and will give him access to strategic resources to continue its investments and expansion in Canada and its recent breakthrough in the United States.
«The next phase of our growth strategy,»
«Combined our teams of experienced professionals to our innovative technology and our operating thrust of the data, this major investment by Warburg Pincus will help SCM to launch the next phase of our growth strategy enabler that will allow us to multiply our points of service and extend our offer to always better serve our customers, says Bob Fitzgerald, chairman and chief executive officer of SCM insurance Services. Warburg Pincus is the right partner at the right time for SCM. Especially as its culture and its strategy match well with ours. «
For his part, Jeffrey Stein, managing director of Warburg Pincus emphasized the strong reputation of SCM as the main provider of administration services claim services and technology insurance in Canada, as well as the re-positioning of the company in the United States. «Thanks to its wide range of advanced services, it has become a one-stop shop for property and casualty insurance and we are convinced that this investment and the enlargement of its service offering will be successful «, he adds.
A breakthrough in the United States
In may 2017, SCM has initiated a breakthrough in the United States through the acquisition of Nixon & Company, thus giving them a platform to continue to build its range of services both at national level and on the market of Lloyd’s of London. This expansion south of the border is part of the engagement of SCM to cover a larger territory in order to better meet the needs of its customers who seek innovative solutions for claims administration and evaluation after a disaster.
The portfolio of companies of SCM includes IndemniPro, a Group of international programs, Xpera risk Mitigation and investigations, Cira Health Solutions, Pario Engineering and environmental science, SCM risk Management (RMS), Opta Intelligence informationnelle and Nixon & Company.