NU Online News Service, July 6, 3:08 p.m. EDT
Buena Park, Calif.-based Freeway Insurance, a provider of non-standard auto insurance and a subsidiary of New York-based Confie Seguros, has announced Joseph Waked as its new chief executive officer, replacing John Klaeb, who was named chairman.
Founded in 1987, Freeway Insurance has grown to more than 190 locations and over 1,200 employees. The company serves customers in Arizona, California and Texas, with related companies in New York, New Jersey, Washington and Oregon. Freeway Insurance writes more than $400 million in premiums annually.
In 2008, Klaeb and Waked partnered with private-equity firm Genstar Capital to create Confie Seguros, a national provider of personal-lines insurance with an emphasis on serving Hispanic consumers.
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