Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Intermediaries
Brokerage
Return to: IBR Home | Intermediaries | Brokerage

Confie buys three insurance brokerage units in US

IBR Staff Writer Published 03 June 2015

Personal lines insurance provider Confie has acquired three insurance brokerages in the US, including one in Texas and two in New York.

Confie

Terms of the deal have not been disclosed.

Confie CEO Valeria Rico said: "Our industry remains very fragmented and as a consolidator of choice, we can be selective in the companies we acquire.

"Our disciplined and proven approach to finding, evaluating, and integrating targets will help drive meaningful growth and profitability as we scale our business."

Confie has purchased R&R&R Brokerage that was established in 1979. It provides auto insurance services in The Bronx area of New York.

The insurer also acquired Eastern General Insurance Services that has five locations in Rochester and Buffalo areas of New York. It is a family owned business that also offers auto insurance services.

In addition, Confie has acquired Colyer Insurance Agency that carries out operations in San Antonio area of Texas. It is involved in providing personal lines services.

Confie said that it has acquired and successfully integrated over 80 businesses since its origin.

Founded in 2008, Confie is a portfolio company of ABRY Partners and reports annual revenue of around $350m.


Image: Confie has purchased three insurance brokerage units. Photo: courtesy of Stuart Miles/FreeDigitalPhotos.net.