Insurer Confie Seguros is at it again this time buying the assets of Carallo Insurance Group Inc. and a retail division of PayneWest Insurance.
Garland, Teas-based Carallo provides auto insurance, and PayneWest, headquartered in Marysville, Washington, specializes in home and small commercial insurance. Terms of the deals were not disclosed.
Confie Seguros, which is backed by Boston private equity firm Abry Partners, has acquired more than 70 businesses since the company started. Now, the group has more than 560 offices. Earlier in October, Confie Seguros bought three brokerages in New York and Washington. In August, the company bought three other brokerages in New York, South Carolina and Texas.
Other insurers are also participating in the industry consolidation. Hub International, a Chicago-based insurance company, added assets of Marrs Maddocks & Associates Insurance Services. Hub has also acquired software company Algentis LLC and Peterson Milaney Insurance Associates Inc.