Adjuster and claims consultant will be rebranded Axis ClaimsPro
Axis Holdings Limited has today announced the sale of Axis Adjusters Europe Ltd (Axis), its UK and International specialist adjusting operation, to SCM Insurance Services (SCM), Canada’s largest insurance services provider, for an undisclosed sum.
Axis, which provides specialist home/foreign adjusting services to UK and International clients under three operating divisions - International Property & Energy; Financial Lines & Liability and Construction & Engineering, will become the European division of SCM’s claims management and adjusting business, ClaimsPro. It will be branded Axis ClaimsPro.
Axis Executive Directors Alistair Jacob and Norman Mitchell will retain their respective positions within the newly formed Axis ClaimsPro. All other management and existing teams remain unchanged.
Commenting on the sale, David Jamison, Chairman and Chief Executive Officer of Axis International Loss Adjusters and Surveyors, said: “This deal has clear mutual benefits to each party. Our structure and expertise in the home foreign operation provides a strong foundation for SCM to develop its international operations. In turn, SCM is committed to growing the specialist operations in terms of services and reach.”
The acquisition solidifies SCM’s physical presence in Europe, reaffirming its commitment to international clients and the London market, and will serve as a springboard for SCM’s strategic plan for long-term growth and expansion into the International markets.
Commenting on the strategic importance of the acquisition, Larry Shumka, President & Chief Executive Officer of SCM, said: “Axis has a strong reputation in the London marketplace and will enable us to further enhance our services to clients doing business with Lloyd’s. Having a physical presence in London will help SCM augment relations with our domestic Lloyd’s clients, and will also offer enhanced services to Lloyd’s clients doing business in Canada.”
The acquisition will also place Axis in a favourable position for continued growth, as SCM’s leading-edge claims technology will benefit both operations and clients significantly. Alistair Jacob said: “SCM are fully committed with our plans to grow the home foreign business. Their platform will enable us to continue to deliver the high levels of technical expertise and service support our clients expect in a more efficient operating environment.”
As part of the deal, SCM will acquire a share of the remaining Axis business. This will provide the chance for both businesses to explore mutually beneficial opportunities to enhance the service provided to clients on an international basis. Speaking about Axis’s future focus, David Jamison said: “Axis’s claims expertise and experience in Latin America and the Caribbean has already enabled us to build a strong presence in these markets. We remain fully committed to delivering the highest quality of service and this deal now enables us to focus on developing further across these territories.”