Confie Seguros, a portfolio company of ABRY Partners, said Wednesday that it has acquired Olympic Insurance. No financial terms were disclosed. Based in Shelton, Washington, Olympic Insurance is an independent insurance company.
NEW YORK, September 4, 2013 – Confie Seguros, a rapidly growing national provider of personal lines insurance, today announced the acquisition of Olympic Insurance in Shelton, WA, a provider of auto, home and small commercial insurance, as part of its continuing growth strategy to build out its geographic footprint.
Olympic Insurance was founded in 1997 and is a privately owned independent insurance agency serving all of Washington state.
Joe Waked, CEO of Confie Seguros, said, “We first entered Washington in 2010 with the acquisition of the iconic Vern Fonk Insurance. The addition of Olympic will further build upon our strategy to grow our presence in the region.” Olympic Insurance marks the eighth acquisition in the pacific northwest and the 17 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. For more information about Confie Seguros, please visit www.confieseguros.com.