Confie Seguros, a provider of auto insurance with an emphasis on serving Hispanic consumers, has acquired auto insurance brokerage Alamo Auto Insurance. The acquisition of San Antonio-based Alamo expands Confie Seguros’ presence beyond its platform in California and continues its pace towards building the leading national insurance distribution company primarily focused on the needs of Hispanic consumers.
Confie Seguros is building a national distribution company focusing on eight to 10 of the most densely populated Hispanic markets, including California, Arizona, Florida, Texas, Illinois, and Nevada. Alamo has more than eight brokerage locations, bringing to nearly 90 the total number of Confie Seguros retail brokerage stores in California and Texas.
“Terry and Holly Burnett have successfully built Alamo Insurance in the Greater San Antonio area and we are pleased to partner with the Burnett’s who will help us expand our market share throughout Texas,” said John Addeo, CEO of Confie Seguros. “We continue to identify strong companies in other markets as well where we will cater primarily to Hispanic consumers.” In addition to providing auto insurance, Confie Seguros expects to begin offering life insurance in the first quarter of 2009.
Confie Seguros has recruited insurance industry veteran Peter Gomez as senior vice president to lead the Texas expansion. He has more than 12 years of experience running large, nonstandard auto insurance retail brokerages in Texas, Illinois and California.
Gomez has held the title of vice president of retail and senior executive vice president of franchise operations with Amco Auto Insurance Agencies Inc./PC Group Holdings, overseeing the day-to-day operations of over 200 stores. During his tenure with Affirmative Insurance, he was assistant vice president and sales manager, Texas for more than 65 locations with AAffordable Insurance Agencies Inc. In addition to the sales side of the retail operations he has experience in acquiring and integrating retail locations as well as opening new stores.
Source: Confie Seguros
Topics California Mergers & Acquisitions Texas Auto Agencies
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