Edmonton-based insurance services provider SCM Insurance Services has acquired Affirmative Risk Management (ARM), a Little Rock, Arkansas-based claims settlements company. Terms weren’t disclosed.
ARM is focused on third-party administration to the Lloyd’s of London marketplace with a specialization in trucking-cargo and liability claims.
SCM, which entered the United States last year with its buy of Nixon & Co Inc, said the deal supports further expansion in that market.
Founded in 1986, SCM has been backed since 2010 by Canadian private equity firm TorQuest Partners. Last August, TorQuest sold a portion of its stake, facilitating a majority investment by Warburg Pincus.
SCM Continues U.S. Expansion with the Acquisition of Affirmative Risk Management
CHICAGO, July 18, 2018 /PRNewswire/ – SCM Insurance Services, Canada’s largest independent, privately owned insurance services provider, today announced that it has acquired Affirmative Risk Management (ARM).
ARM was founded more than 30 years ago and remains headquartered in Little Rock, Arkansas. The company is a leader in third-party administration to the Lloyd’s marketplace with an emphasis on trucking/cargo and liability claims.
SCM first entered the United States (U.S.) market in May of 2017 with the acquisition of Nixon & Company, Inc. This latest venture is further evidence of SCM’s commitment to the U.S. by partnering with another best in class organization.
“This acquisition gives us the chance to grow further in the program space with a firm that is well-respected by Lloyd’s and has deep trucking and liability expertise,” said Scott Goodreau, SCM’s Chief Operating Officer – USA. “Like Nixon & Company before it, ARM has the service capability and geographic reach that make it an ideal choice for SCM’s further expansion into the U.S.”
Bob Fitzgerald, CEO of SCM Insurance Services added, “Our investment in the talented team of people at ARM exemplifies our commitment to serve customers across North America. Leveraging our market leading technology, management information, and skilled professionals, ARM complements our existing presence in the U.S. as we continue to grow.”
ARM will continue to be led by David Elliott, its President. Mr. Elliott will report directly to Scott Goodreau.
“This is a wonderful opportunity for our business and our clients, and we look forward to partnering with SCM Insurance Services,” said David Elliott.
About Affirmative Risk Management
Founded in 1987, Affirmative Risk Management (ARM) provides adjusting services related to commercial property, homeowner property, casualty, diesel trucks/trailers, motor truck cargo, heavy equipment, and products liability insurance claims. Since its inception, ARM has grown to a multi-line independent adjusting and third-party administration firm that handles all lines of insurance claims with the exception of energy, director and officers, professional malpractice, ocean marine, crop insurance, and jewelers block. ARM’s current staffing level is over 50 employees.
About SCM Insurance Services
SCM Insurance Services has been servicing the insurance and risk management community for the past 31 years with over 200 locations and 2,900 employees. As a privately-owned provider of claims adjusting, third-party adjusting (TPA), risk management, investigative, surveillance, risk mitigation, medical services, forensic engineering services, and risk intelligence, SCM has distinguished itself through innovative technology, expert staff, and solid customer service. The SCM Insurance Services Group of Companies includes ClaimsPro, International Programs Group (IPG), Xpera Risk Mitigation & Investigation, Cira Health Solutions, Pario Engineering & Environmental Sciences, SCM Risk Management Services (RMS), Opta Information Intelligence, and Nixon & Company, Inc. Visit www.scminsuranceservices.com for more information.