US-based auto and personal lines distributor Confie has acquired Houston, Texas-based TGS Insurance Agency, a provider specialising in standard personal lines insurance.
The deal was closed earlier this month and its financial terms have not been disclosed.
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The acquisition is intended to expand InsureOne’s capabilities as a national platform for standard personal lines and small commercial customers.
InsureOne was formed in 2019 through the consolidation of Confie’s standard personal lines and commercial insurance businesses across the US.
Founded in 2017, TGS Insurance operates as an independent agency with a focus on homeowners and private auto insurance.
Using a direct-to-consumer call centre model, the company has established a presence across Texas and, more recently, Florida.
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By GlobalDataOver the past year, TGS has recorded 20% growth in new business production, a Confie press release said.
TGS Insurance founder and CEO Damon Diamantaras said: “Since our founding, TGS has been focused on building a scalable, client-centric platform powered by disciplined execution and great people.
“Joining Confie and InsureOne allows us to accelerate that vision while preserving the culture and operating model that have driven our success. We are excited to expand our impact nationally with a partner that shares our long-term commitment to growth, innovation and client choice.”
TGS Insurance will now operate under the InsureOne name and the current management team is set to continue leading operations from Houston.
Following this transaction, more than 130 insurance professionals from TGS have joined Confie.
According to Confie, the integration is aimed at enhancing InsureOne’s approach to targeted marketing, data analytics and carrier partnerships, while increasing its presence in Texas, Florida and Louisiana.
Confie CEO Cesar Soriano commented: “This acquisition is about building scale with intention. TGS brings proven growth, strong leadership and a model that aligns with our vision for InsureOne as a national standard personal lines platform.”
Confie was established in 2008 and operates as an auto and personal lines insurance distributor with staff across the US and Mexico.
It also manages Bluefire general agency and operates telephone and online service centres covering all states.
