The Shumka Group Buys CGI Group’s P&C Claims Unit And Risk Management Services

The Shumka Group has acquired the property and casualty insurance claims and risk management services from CGI Group Inc.

The transaction will create the largest independent insurance services company in Canada, according to a Shumka Group release.

Expected to close in early August, the transaction was for an undisclosed amount.

CGI’s claims adjusting and risk management services has approximately Cdn$70 million in revenue, according to a CGI release.

“With this acquisition, we are better positioned to serve our clients with a broader array of professional insurance services,” Larry

Shumka, president and CEO of The Shumka Group, said in the release. “This

strengthens our existing operations in all parts of the country, particularly Quebec and Ontario. Furthermore, the transaction will result in additional service capacity, which provides greater stability for both our company and our clients.”