Abry Partners-backed Confie Seguros has purchased three more insurance brokerages.
The insurer picked up the Insurance Market Agency Inc., headquartered in Tonawanda, New York, Action Auto Insurance Agency Inc., headquartered in Cheektowaga, New York, and Fast Quote Insurance, based in Ontario California. Insurance Market and Action Auto provide auto, homeowners and small commercial insurance, and Fast Quote provides car insurance.
The Huntington Beach, California-based company has spent the past few years making a string of acquisitions. In October, Confie bought the assets of Carallo Insurance Group Inc. and a retail division of PayneWest Insurance. Before that, also in October, the insurer bought three brokerages: AA Insurance, Parietti & McGuire Insurance and Insurance Now LLC.
Confie's buying spree, under CEO Joseph Waked, comes during a long period of consolidation as other insurers look to ink deals. In October, GTCR-backed AssuredPartners Inc. acquired Casualty Assurance of Chaska, and Hub International Ltd. bought the assets of Marrs Maddocks & Associates Insurance Services. Inc.
For more on the sector's consolidation, see Racking Up Regional Insurers.