Confie announced the acquisition of Acceptance Insurance’s retail division to its family of brands.
The personal lines distribution company said its latest acquisition expands its footprint to 26 states across the U.S. with the retail store additions in Ohio, Pennsylvania and Mississippi. Acceptance Insurance operates more than 288 retail locations in 13 states where it sells and services primarily non-standard insurance, Confie said. Their product portfolio primarily includes auto, motorcycle, renters and home insurance products.
Terms of the deal were not disclosed. Acceptance will continue to operate under its current brand.
“This acquisition allows us to broaden our customer reach by expanding our retail presence to over 1,250 stores nationwide. This merger is a significant milestone for both of our companies,” said Cesar Soriano, Confie CEO.
Confie (now part of Alliant Insurance) earned the #1 spot in Insurance Journal‘s annual Top 50 Personal Lines Agencies report for the eighth consecutive year, based on 2022 personal lines revenue submitted by independent agencies and brokerages.
Confie said it has a three-pronged approach toward expanding into new markets that include organic retail growth as well as optimally positioned acquisitions and franchising opportunities. Earlier this year, Confie announced the acquisition of Estrella Insurance, which significantly expanded their franchising division. Confie has also expanded its standard division with the acquisitions of Belfield Insurance Agency in New York, Apollo Insurance Agency in California and Eguino and Associates in Florida.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.