News Column

Confie Seguros Acquires Insurance Agencies Nationwide

May 10, 2012

Confie Seguros, a national provider of insurance for Hispanic consumers, has completed the acquisition of six more insurance agencies, according to a news release.

The companies acquired are Survival Insurance in Burbank, Calif.; Speedlane Insurance in Upland, Calif.; The Chapman Agency in Elizabeth, N.J.; Coppola Insurance in West Seneca, N.Y.; Palmetto Insurance in Miami, Fla.; and Daley Insurance in Margate, Fla.

"Confie Seguros has demonstrated its ability to identify growth-oriented companies and to successfully integrate them into our platform," said Joe Waked, CEO of Confie Seguros.

"Each of these companies offers valuable additional growth opportunities for Confie to provide excellent customer service in our existing geographies," he added. "We continue to strengthen our footprint and are also focused on growing our existing business lines as we approach $200 million in annual revenues."

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Confie Seguros has built a national portfolio of regional auto insurance brokerages, and was rated among the top 10 in revenues in Insurance Journal's top 100 list of insurance agencies.

The company has acquired 20 agencies over the past 12 months -- 10 of them this year, according to Mordy Rothberg, president of Confie Seguros. "These agencies will benefit from being an integral part of our larger company and their customers will ultimately benefit from a broader array of complementary products," he said.

Confie Seguros, based in New York, was established in 2008 in partnership by Genstar Capital, a leading private equity investment firm focused on accelerating growth and profitability of portfolio companies, and insurance industry executives.

Source: (c) 2012. All rights reserved.

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