Confie Seguros, a provider of personal lines, has acquired Stonewood Insurance Services, a specialized firm in writing California non-standard personal automobile coverage.
Confie Seguros CEO Joe Waked said, "The acquisition of this strong general agent makes strategic sense as Confie represents over 85% of the business in Stonewood’s current book."
Stonewood is being managed by expert insurance executive Clyde Sturgeon, president, who will continue in his position.
According to the acquirer, this is the 22nd transaction for Confie in the last 12 months and the 15th to date.
Confie Seguros has a strong bouquet of regional auto insurance brokerages, which will enable it to expand its footprint in the area.
With annual revenue of nearly $200m, Confie Seguros has a strong bouquet of regional auto insurance brokerages, which will enable it to expand its footprint in the area.