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Tuesday, Mar 19, 2024
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Insurance Network Expands NY Reach

Buena Park-based insurance agency network Confie Seguros Insurance Services acquired CW Baker Insurance Agency Inc. and Lewiston Insurance Agency Inc., both in New York. Terms weren’t disclosed.

Confie, which primarily focuses on the Hispanic market, said the buys are part of a strategy to expand its presence in the state of New York. CW Baker and Lewiston Insurance provide personal insurance services and commercial insurance products for small businesses.

Acquisitions have helped Confie grow rapidly since its 2008 inception. The company had more than 20 deals for smaller brokerages last year, including buys in New York, New Jersey and Florida. The company said it expects to expand in other states, including Illinois and the Carolinas.

Confie oversees more than 300 retail brokerage locations under various brands, including Freeway Insurance in Southern California. It had $200 million in revenue last year and said it aims to reach $500 million by 2018.

Boston-based private equity firm Abry Partners LLC bought a majority stake in Confie last year.

―Jane Yu

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