New York-based insurance broker Confie Seguros said it has acquired Northern California-based auto insurance brokerage West Coast Auto Insurance Services. Transaction terms were not released.
The acquisition expands the firm's reach in California, with the addition of West Coast's more than 120 associates, a representative said.
Confie Seguros, which specializes in the nonstandard auto insurance, said it now has annual revenues of $75 million, well over 300,000 customers, $250 million in annual written premiums, and over 80 retail brokerage stores throughout California.
The firm said it expects to build a national distribution company focusing on eight to 10 of the most densely populated Hispanic markets, including California, Arizona, Florida, Texas, Illinois and Nevada.
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