Confie Seguros Enters Florida Market, Buys Trustway Agencies

Confie Seguros, a group of insurance agencies targeting Hispanic customers, has acquired the Miami, Florida-based Trustway Insurance Agencies.

Founded in 1998, Trustway has 28 locations in the state and additional offices in Georgia and Alabama.

Terms were not disclosed.

Jeff Greene will serve as the general manager of the Florida office. Prior to joining the company, Greene was a vice president of operations and director of franchising for FedUSA Insurance/Franchising Group. He also was the Florida state retail manager and director of franchise operations and for Affirmative Insurance Holdings.

The New York-based Confie Serguros is a portfolio company of Genstar Capital, a San Francisco-based private equity firm that invests in life sciences, healthcare, financial services, software, and industrial technology industries.

The company has $160 million in annual revenue and 275 retail offices in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, and Nevada. The insurer also has plans to enter the Illinois, Georgia, South Carolina, and North Carolina markets.

Topics Mergers & Acquisitions Agencies Florida New Markets