Confie, a national provider of personal and commercial lines insurance, announced Monday that it has entered the Massachusetts market with the acquisition of Axiom Insurance Agency based in Springfield. Terms of the transaction were not disclosed.
Founded in 2000 and specializing in personal lines insurance, Axiom Insurance Agency has five locations in central Massachusetts, including the greater Springfield area, New Bedford, and Worcester. Axiom Insurance Agency’s 18 employees will all join Confie as part of the transaction.
Confie said Axiom Insurance Agency’s locations provide an opportunity for further expansion throughout the state.
“We are excited about our entry into Massachusetts and continuing our expansion in the Bay State,” Confie Chief Executive Officer Valeria Rico said. “As we developed plans to provide insurance services to Massachusetts consumers, our key objective was to identify a strong initial platform from which to further build our presence and offer our services throughout the state.”
“Axiom is a strong company that fits our objective very well, and we look forward to expanding to locations throughout Massachusetts, including the Boston area,” Rico said.
Established in 2008, Confie is a California-based national insurance distribution company primarily focused on personal lines and small commercial insurance. A portfolio company of Boston-based private equity firm ABRY Partners, Confie has approximately 700 retail locations across 18 states and generates annual revenues approaching $500 million.
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