Confie Seguros, a US based insurance distribution company focused on Hispanic consumers, has acquired two New Jersey insurance brokerages, Royale Insurance and First Americano Insurance Agency.
This acquisition marks the entry of Confie into New Jersey, as the two brokers Royale and First Americano have seven locations in the state.
Since 1978, Royale Insurance has been providing personal insurance, including automotive, homeowners, business and professional liability insurance, as well as small commercial insurance policies. First Americano has provided similar coverage for more than 10 years.
With the addition of Royale and First Americano, the Confie Seguros is expected to generate in excess of $160m in annual revenues.
Confie Seguros is a portfolio company of Genstar Capital, a San Francisco-based private equity firm. Genstar established Confie Seguros in 2008 in collaboration with the company’s management team to acquire insurance agencies focused on the Hispanic consumer.