Alliant to merge with Confie
Alliant Insurance Services plans to merge with Confie , a personal lines insurance distributor in the US. The agreement includes Confie’s family of personal insurance brands and more than 1 million customers. Confie and its more than 3,500 employees is currently a portfolio company of Abry Partners, a Boston-based private equity firm.
“Confie and its diverse team of insurance professionals have set the standard for excellence in personal lines insurance and have carried the company to the top of the market. We are excited to be able to further empower them to do what they’ve always done well.” – Tom Corbett, Chairman and CEO of Alliant.
Founded in 2008, Confie serves its customers nationwide via online purchasing, a national virtual call center, and walk-in personal support at more than 750 local community stores. Confie brings in excess of 150 national and regional carrier partnerships to offer auto, motorcycle, homeowners, renters, life, health, and various other insurance products through its brands, including Freeway Insurance, InsureOne Insurance, Bluefire Insurance, OneSource Dealer Services, Cost-U-Less Insurance Center, Baja Auto Insurance, and US Agencies.
“Confie is proud to be the largest personal lines agency, and joining forces with Alliant will further enhance our growth and expand our market opportunities. Alliant’s long-standing legacy of strength and growth, combined with Confie’s culture of service, make this an extraordinary growth opportunity for both of our firms. Thanks to our amazing employees and our winning culture, we are ideally positioned to successfully execute on our growth strategy and continue supporting our customers and our communities.” – Cesar Soriano, CEO of Confie.
Soriano and the entire team will continue to provide their trusted brand of service and insurance expertise to customers under the Confie brand.
“We have been proud to be investors in Confie since 2012 as the company grew into the largest personal lines agency in the country. Cesar Soriano and the entire Confie management team have built an innovative and industry-leading business, and we are excited to watch their continued success.” – Brent Stone, a Partner at Abry Partners.
The transaction is expected to be completed in the second quarter of 2021, subject to customary closing conditions, including regulatory approvals. Terms of the agreement were not disclosed.
J.P. Morgan served as financial advisor to Abry and Confie, and Kirkland & Ellis LLP served as legal counsel. Kramer Levin Naftalis & Frankel LLP served as legal counsel to Alliant.