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Alliant Insurance Services Inc. said Wednesday it has agreed to buy Confie, a personal lines agency, from Boston-based private equity firm Abry Partners LLC.
Terms of the transaction, which is expected to be completed in the second quarter, were not disclosed.
Alliant said in a statement that the agency will continue to serve policyholders under the Confie brand.
Founded in 2008, Huntington Beach, California-based Confie (formerly known as Confie Seguros) has more than 3,500 employees and 750 offices in 23 states.
The acquisition of Confie will bring some 150 national and regional insurer partnerships that offer auto, motorcycle, homeowners, renters, life, health and other coverages, Alliant said in a statement.
Confie’s subsidiaries include Freeway Insurance Services Inc., InsureOne, Bluefire Insurance Services Inc. and USAgencies LLC.
Joining forces with Alliant will enhance growth and expand market opportunities, Confie CEO Cesar Soriano said in the statement.
Abry acquired Confie in 2012. In 2019, Abry sold The Hilb Group LLC to private equity firm The Carlyle Group for a reported $1 billion.
Alliant Insurance Services, headquartered in Newport Beach, California, is the 10th-largest brokerage of U.S. business, according to Business Insurance’s most recent ranking.
Alliant Insurance Services Inc. announced Thursday it has acquired trade credit and political risk insurance broker One Source Risk Management and Funding Inc.