Confie acquires Acceptance Insurance

Personal lines insurance distributor Confie announced the acquisition of Acceptance Insurance’s retail division. With this latest acquisition, the Alliant subsidiary expands its footprint to 26 states with the retail store additions in Ohio, Pennsylvania and Mississippi.

Acceptance Insurance operates more than 288 retail locations in 13 states where it sells and services primarily non-standard insurance. Their product portfolio primarily includes auto, motorcycle, renters and home insurance products. Acceptance will continue to operate under its current brand.

As part of the deal, Alliant is buying Acceptance Insurance Agency of Tennessee in a transaction that could be worth up to $120 million, consisting of $55 million paid at closing, $20 million to be paid throughout 2024, and up to $45 million paid at the end of each year over the next three years (2024-2026) based upon achievement of certain annual production targets.

“We are thrilled to welcome the addition of Acceptance Insurance into our family of brands. This acquisition allows us to broaden our customer reach by expanding our retail presence to over 1,250 stores nationwide. This merger is a significant milestone for both of our companies.” – Cesar Soriano, Confie CEO.