Confie Seguros, a portfolio company of ABRY Partners, said Monday that it has acquired Economy Insurance Mart. No financial terms were disclosed. Based in Spring Hill, Florida, Economy Insurance Mart is a provider of auto, home and small commercial insurance.
NEW YORK, August 5, 2013 – Confie Seguros, a rapidly growing national provider of personal lines insurance, today announced the acquisition of Economy Insurance Mart of Spring Hill, FL, a provider of auto, home and small commercial insurance, as part of its continuing growth strategy to build out its geographic footprint throughout Florida.
Economy Insurance Agency was founded in 1993 and is a privately owned independent insurance agency serving Hernando County.
Joe Waked, CEO of Confie Seguros, said, “Florida represents one of our key markets and we are pleased to add Economy Insurance to help broaden our geographic reach within the state. We have operated there for a number of years and Economy will greatly complement our existing locations.”
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 $200million 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. For more informationabout Confie Seguros, please visit www.confieseguros.com.