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TorQuest makes “significant” equity investment in SCM Insurance Services


August 3, 2010   by Canadian Underwriter


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TorQuest Partners, a Canadian-based manager of private equity funds, has made what it calls a “significant equity investment” in SCM Insurance Services (SCM).
The exact amount of the investment was not disclosed.
TorQuest Partners has more than $700 million of equity capital under management. It has made a number of previous investments in the insurance and insurance services industries, including the creation of a limited partnership in early January 2007 that now operates under the name of FirstOnSite Restoration LP.
SCM is an independent, privately owned provider of claims management, risk management and related services in Canada. It has more than 110 offices nationally, with more than 1,400 employees.
“TorQuest’s investment in SCM is a strong endorsement of our strategy, people and potential,” SCM said in a joint press release. “We see this as an exciting opportunity for growth and, in conjunction with the great team and client base we already have, this partnership will prove to enhance our strategic positioning both nationally and internationally.
“It’s also important to note that our management team will continue to hold a sizable equity stake in the company. The leadership and operations of SCM Insurance Services,
ClaimsPro, Forensic Investigations Canada and SCM Risk Management Services will remain unchanged.”
SCM also notes the national launch of iClarify, its proprietary insurance-to-value (ITV) solution, will continue on schedule.


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