Confie Seguros
John Addeo, Confie Seguros CEO, has successfully led two consolidations of middle-market property and casualty brokerages. Most recently, John was President and CEO of Alliant Resources Group, a company he founded and built to over $200 million of revenues through 12 acquisitions. Alliant was recently acquired by Blackstone for $1.1 billion. Prior to Alliant, he was President and COO of USI Insurance Services, where he acquired 90 insurance brokerages and built USI into the sixth largest brokerage firm in the U.S. Goldman Sachs Capital Partners acquired USI in January 2007 for $1.4 billion. John is a well-known and respected industry veteran with more than 35 years of insurance industry experience in both finance and operations.
Mordy Rothberg, Founder and President of Confie Seguros, will lead Business Development and Strategy. Mordy has significant business development experience from his tenure as an executive at IDT Corp and Net2phone.
Stephen Provenzano, Executive Vice President & CFO, has over 25 years of finance and operations experience in multi-unit retail businesses.
Andre Urena, Senior Vice President of Business Development, has over 20 years of experience in the Hispanic insurance market and is the CEO and founder of the Latin American Agents Association in Southern California. Andre was the CEO of Oasis Insurance, which Confie Seguros acquired and has now folded into Westline's operational platform. Andre has relinquished his operational role to focus on business development.
Westline Corporation
Confie Seguros completed its first investment in Westline Corporation in January, 2008. Westline, based in Cypress, California, is one of the largest distributors of non-standard auto insurance products operating from 30 retail branches throughout California, and with the recent acquisition of Oasis Insurance's five branches now totals 35 locations. Westline offers its products through three brokerage operations: South Coast Auto Insurance, Solo Insurance, and Freeway Insurance. Westline will serve as the California operational platform for Confie Seguros.
John Klaeb, founder and CEO of Westline, and Joe Waked, COO of Westline, will lead operations and acquisitions in California.
Genstar Capital, LLC
Based in San Francisco, Genstar Capital (www.gencap.com) is a leading private equity investment firm that makes leveraged investments in quality middle-market companies. Genstar Capital works in partnership with management to transform its portfolio companies into industry-leading businesses. With more than $3 billion of committed capital under management and significant experience investing in businesses, Genstar focuses on selected segments of life science and healthcare services, industrial technology, business services and software services.
Earlier in 2007, Genstar invested in another insurance-related company, 21st Services, a Minneapolis-based company that is a leading provider of life expectancy information that is currently used in the life settlement industry, the secondary market for life insurance. 21st Services currently supplies life expectancy estimates on seniors to brokers, providers and investors, as they determine the valuation for a policy.
