Davies Acquiring SCM Insurance Services in Canada

Davies is acquiring SCM Insurance Services, a large claims processing and risk solutions provider in Canada.

The deal has SCM’s three operating businesses—ClaimsPro, a claims adjusting firm; IPG, a third-party claims administrator; and Pario, a forensic engineering and consulting business—joining Davies.

Following the deal, Davies will have a combined team of 9,500 people operating in 22 countries across Europe, North America, South America, Asia and Australasia.

As part of the acquisition, SCM’s existing institutional shareholders, Warburg Pincus and TorQuest Partners, will reinvest part of their proceeds and become minority shareholders in Davies, alongside Davies’ existing institutional shareholders.

London-based Davies offers professional and technology services across the risk and insurance chain, including in claims, underwriting, distribution, regulation and risk, forensic accounting, customer experience, human capital, digital transformation and change management.