One of the fastest growing national providers of personal lines insurance, Confie Seguros, announced the finalization of formal agreements for the acquisition of the retail distribution arm of Affirmative Insurance Holdings Inc. The acquisition further solidified Confie's position as the leading national insurance brokerage firm.
Affirmative Insurance Holdings Inc, also known as the Retail Agency Group, currently operates 195 retail locatons with nearly 400 sales agents. The firm had grown through acquisitions and organic transactions. The company also enhanced the geographic diversification as well as establish a platform for the company located in the Midwestern and Southeastern United States.
According to Confie Seguros CEO Joe Waked, "Confie has a proven track record of identifitying high performing retail insurance agencies and integrating them into the Confie family of companies. The addition of these key locations and their premium volume significantly increases our size and geographic reach and transforms us into the largest non-captive distributor of non-standard insurance in the US."
The company had built a national portfolio of regional auto insurance brokerages, making it one of the top 10 in revenues according to the Insurance Journal's top 100 rankings.
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