Confie Seguros, a provider of insurance with an emphasis on serving Hispanic consumers, has acquired Houston-headquartered insurance brokerage firm Auto Insurance Discounters, in an effort to expand its operations in Texas.
Established in 1992, Auto Insurance Discounters is a property, casualty, and life insurance agency, with serving 13 locations in Houston and the surrounding counties and provides insurance for auto, home, renters, and life coverage in Texas.
Confie Seguros subsidiary Freeway Insurance CEO Joe Waked said they have been steadily building their presence in Texas since they entered the market in 2008.
"Houston is one of the largest markets for us and it was important to acquire additional retail locations to develop a stronger presence in Houston," said Waked.
Confie’s operation in Texas is being managed and operated by Freeway Insurance.
Confie Seguros president Mordy Rothberg said Auto Insurance Discounters has a strong reputation and has achieved impressive growth, and the company looks forward to working with the management team to help them to further expand the company’s presence.
Confie Seguros, a portfolio company of San Francisco-based private equity firm Genstar Capital, began serving the Texas market with its 2008 acquisition of Alamo Auto Insurance in San Antonio.