Confie Seguros Acquires Three Florida Brokerages

Private equity-backed Confie Seguros has acquired three insurance brokerages in Florida, the company announced Thursday. Confie Seguros is a California-based insurance distribution company focused on Hispanic consumers. The company is backed by ABRY Partners.

PRESS RELEASE

Confie Seguros, a rapidly growing national provider of personal lines insurance focused on the needs of Hispanic consumers, today announced the acquisition of three insurance brokerages in Florida that will strengthen the company’s operations in that state. Confie Seguros completed 22 acquisitions in 2012, 10 of which were in Florida.
Confie Seguros completed the acquisitions of Second City Insurance, in Holiday; Insurance of Lauderdale Lakes, in Lauderhill; and, Harmony Insurance, in Kissimmee.
Joe Waked, CEO of Confie Seguros, said, “Our growth over the past several years has been due in large part to the high quality acquisitions we have completed and we are very pleased to add these specialty brokerages and their highly regarded reputations to our organization. We continue to see an excellent pipeline of opportunities and the combination of Confie’s experienced management team and the strong market positions of these local agencies will enable us to continue our expansion, both organically and externally, in 2013.”
Confie Seguros has built a national portfolio of regional auto insurance brokerages. The company was rated among the top 10 in revenues in Insurance Journal’s latest top 100 ranking of insurance agencies and in Best’s Review’s 2012 Top 20 Global Insurance Brokers.
About Confie Seguros
Established in 2008, Confie Seguros is a leading, California-based national insurance distribution company primarily focused on the insurance needs of Hispanic consumers. The experienced Confie Seguros management team, led by CEO Joe Waked, continues to build Confie Seguros’ portfolio of regional auto insurance brokerages, and today it has annual revenue of over $200 million with more than 300 retail locations. The company has leading market positions in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, and Nevada and expects to continue its expansion in those and other states, including Illinois, Georgia, and the Carolinas. Confie Seguros is a portfolio company of ABRY Partners.

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