A fast-growing national insurance brokerage that has been snapping up small agencies nationwide gobbled another Western New York firm this week, absorbing Bower Insurance in Lockport.
Confie Seguros, the Huntington Beach, Calif.-based agency that focuses on the needs of Hispanic customers, did not say how much it paid to acquire Bower, which has provided auto, homeowners and small commercial insurance locally for more than 50 years. Confie also acquired two insurance agencies in Round Rock, Texas, and Charleston, S.C.
Founded in 2008 and part of ABRY Partners, Confie now has more than 550 retail locations and leading market positions in 17 states, while building its presence in three others. Total annual revenues now exceed $300 million.
In New York, it has 48 locations, including seven insurance agencies it previously acquired in Western New York since early 2012.