Daily Insurance Industry News
Daily Insurance Industry News
Sunday 21st of October 2018
March 23, 2010

Canada’s SCM acquires AXIS Adjusters Europe

by Gill Montia

Story link: Canada’s SCM acquires AXIS Adjusters Europe

SCM Insurance Services, which claims to be Canada’s largest insurance services provider, is acquiring AXIS Adjusters Europe Ltd.

Following completion of the transaction, AXIS will be the London-based European division of ClaimsPro, SCM’s claims management and adjusting business division.

The acquisition should serve as a springboard for SCM’s long-term growth and expansion plans in international markets, while at the same time allowing the group to enhance its services to Canadian clients doing business with Lloyd’s of London.

According to SCM president and chief executive officer, Larry Shumka, AXIS has ongoing relationships with the Lloyd’s marketplace, and a strong reputation as an expert in the high-end, special-risk niche.

AXIS’ executive directors, Alistair Jacob and Norman Mitchell, will continue to hold key management positions in the merged business.


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