New York — Confie Seguros, a provider of auto insurance with an emphasis on serving Hispanic consumers, 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 toward building the leading national insurance distribution company primarily focused on the needs of Hispanic consumers, the company says.

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. The acquisition of Alamo continues the implementation of the company's business plan outside of California. Alamo has more than eight brokerage locations, bringing the total number of Confie Seguros retail brokerage stores to nearly 90 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 Burnetts, who will help us expand our market share throughout Texas," says 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 and look forward to offering a wider range of services to our customers."

In addition to providing auto insurance, Confie Seguros expects to begin offering life insurance in the first quarter of 2009.

Confie Seguros also has recruited insurance industry veteran Peter Gomez as SVP to lead the Texas expansion. Gomez joins Confie Seguros with more than 12 years of experience in running large non-standard auto insurance retail brokerages in Texas, Illinois and California. Gomez held the title of VP of retail, and senior EVP of franchise operations with Amco Auto Insurance Agencies Inc./PC Group Holdings, overseeing the day-to-day operations of more than 200 stores.

Source: PR Newswire   

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access