Confie Seguros is on track to become the nation’s largest personal lines and small commercial insurance broker.
The experienced Confie Seguros management team, led by CEO Joe Waked, continues to build its portfolio of regional auto insurance brokerages, and today has annual revenues approaching $300 million and a nationwide footprint encompassing more than 540 locations. The company has leading market positions in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, Nevada, Illinois, Alabama, Kansas, Wisconsin, South Carolina, Missouri, Louisiana, and Indiana and expects to continue its expansion in those and other states, including Georgia, Virginia and North Carolina.
Continued growth during a challenging economy
Achieving steady growth, both organically and externally through acquisitions, requires an in-depth understanding of proven consolidation practices. Since its inception in 2008, Confie Seguros has completed over 60 acquisitions, with 22 in 2013 alone.
By having direct access to significant resources and industry-proven knowledge about economies of scale, Confie is able to focus on growth through attractively priced acquisitions – the fundamental driver of the Company’s strategy and value proposition.
Recognizing that the Personal lines insurance brokerage industry is highly fragmented with few competing consolidators, Confie achieves significant growth via two strategies:
- Larger acquisitions expand Confie’s geographic footprint, often into new regions.
- Fold-ins complement existing retail store networks and leverage the Company’s infrastructure and advertising.
Confie will continue its proven growth strategy through:
- Acquisitions: Hub and Spoke strategy
- Offering new insurance related products and services (Standard and Preferred, Homeowners, Life, and Small Commercial)
- Opening new retail branches
- Fastest growing segment of the population
- Most under-served for Insurance related products
- The brokerage landscape is comprised of highly fragmented mom & pops; ripe for consolidation
- Joe Waked has led teams to raise in excess of $400 million in capital and integrated over $200 million in acquisitions
- Revenues approaching $300 million in 17 states with more than 540 retail locations
- Proven economies of scale with fold-in acquisitions
- Tremendous growth: organic and external
- We have thrived in the worst economic environment
- Rated #5 in Revenues in Insurance Journals top 100 for 2012
- Named by A.M. Best among the Top 20 Global Insurance Brokers