Confie Seguros, 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 Inc., a Houston-headquartered brokerage 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.
Confie entered the Texas market with its 2008 acquisition of Alamo Auto Insurance in San Antonio. Confie continues 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.
Aon is closing down Agency Specialty Product Network (ASPN), a subsidiary, by the end of the year.
“Aon values the long-term relationships developed with local agents and brokers and we remain committed to developing, underwriting and distributing specialty products and services tailored to agent distribution through our Aon Affinity and managing general underwriting businesses,” said an Aon spokesperson, who confirmed ASPN’s planned closing.
ASPN is a special brokerage, marketing unit. It provided other agents and brokers access to various insurance products, markets and services they might not otherwise have access to. It offers services to clients including carriers, wholesalers, managing general underwriters, and insurance services companies.
Based in Chicago, Agency Specialty Product Network Insurance Services was previously known as Aon Specialty Product Network, and operates as a subsidiary of Aon Corp.
Richmond, Virginia-based specialty insurer Markel Corp. is acquiring Thompson Insurance Enterprises, a national program administrator that does business as Thomco.
Headquartered in Kennesaw, Ga., Thomco manages national programs including ones for medical transportation, senior living, childcare centers, fitness clubs, pest control operators, tanning salons and inflatable rental operators.
Thomco will continue to operate as a separate business unit with Greg Thompson and Bob Heaphey, current chairman and president, respectively, leading the operation. The operating unit will be a part of Markel Specialty. Completion of the transaction is expected in the first quarter of 2012. Terms of the transaction were not disclosed.
Torus, C.V. Starr
Torus is acquiring the renewal rights to C.V. Starr Syndicate 1919′s Continental European marine, casualty, financial lines and general property business, effective Jan. 1, 2012. Both Torus Syndicate 2243 and CV Starr Syndicate 1919 are managed by Starr Managing Agents Limited (SMAL). As part of the agreement the majority of the Continental European based employees will transfer from Starr Underwriting Agents Limited to Torus Insurance Marketing Limited, which is an authorized cover-holder on behalf of Syndicate 2243.
Torus will also be appointed as coverholder for Syndicate 1919 by SMA with respect to the transfer of business lines, subject to regulatory approval to ensure all relevant business previously insured by Syndicate 1919 and the business being renewed into Syndicate 2243 will be handled by the same underwriting and claims teams in Paris, Cologne, Rotterdam and Milan.
The transaction has been approved by Lloyd’s.