Genstar’s Confie Seguros Acquires Auto Insurance Discounters

Confie Seguros, a national provider of insurance with an emphasis on serving Hispanic consumers, has expanded its operations in Texas with the acquisition of Auto Insurance Discounters, an insurance brokerage company headquartered in Houston. Confie Seguros is a portfolio company of Genstar Capital, a San Francisco-based private equity firm that focuses on investments in life sciences, healthcare, financial services, software, and industrial technology industries. Genstar established Confie Seguros in 2008.

PRESS RELEASE

Confie Seguros, a rapidly growing national provider of insurance with an emphasis on serving Hispanic consumers, today announced that it has expanded its operations in Texas with the acquisition of Auto Insurance Discounters, Inc., a leading insurance brokerage headquartered in Houston.

Auto Insurance Discounters is a property, casualty, and life insurance agency. Started in 1992, the company has grown to 13 locations serving Houston and the surrounding counties and is one of the largest providers of insurance for auto, home, renters, and life coverage in Texas.

Joe Waked, CEO of Freeway Insurance, a subsidiary of Confie Seguros, said, “We have been steadily building our presence in Texas since we entered the market in 2008. Houston is one of the largest markets for us and it was important to acquire additional retail locations to develop a stronger presence in Houston.” Freeway Insurance operates Confie’s operation in Texas.

“Auto Insurance Discounters has a strong reputation and has achieved impressive growth. We look forward to working with the management team to help us to further expand the company’s presence,” added Mordy Rothberg, President of Confie Seguros. Rothberg heads Confie’s strategy and acquisition efforts throughout the United States.

Confie began serving the Texas market with its 2008 acquisition of Alamo Auto Insurance in San Antonio. Confie continues its rapid growth and has made 10 previous acquisitions this year to further build its national footprint.

Confie Seguros is a portfolio company of Genstar Capital, a San Francisco-based private equity firm that focuses on investments in selected segments of the life sciences, healthcare, financial services, software, and industrial technology industries. Genstar established Confie Seguros in 2008 in collaboration with the company’s management team to acquire insurance agencies focused on the Hispanic consumer.

About Confie Seguros
Confie Seguros is a leading national insurance distribution company primarily focused on the insurance needs of the Hispanic consumer. The experienced Confie Seguros management team, led by seasoned insurance veteran CEO John Addeo, continues to build its portfolio of regional auto insurance brokerages, and today has annual revenue exceeding $180 million with over 275 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 states as well as in Illinois, Georgia, and the Carolinas.