Employers should not pay brokerage fees for Filipino workers: CLA. Colombia's Interbolsa brokerage to be liquidated. Genstar In Hunt for Another Confie-like Brokerage. Now that it has sold its equity stake in Hispanic-focused auto insurance broker Confie Seguros, Genstar Capital LLC appears to be on the hunt for another insurance concern. The San Francisco, Calif. -based private equity firm on Friday sold off its investment in Confie Seguros to Boston-based private equity firm ABRY Partners. Terms of the deal were not disclosed. Genstar partnered with insurance executives in 2008 to establish Confie Seguros, and the Buena Park, Calif. -based company has grown to over 300 retail locations with annual revenues of more than $200 million.
It now has market positions in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey and Nevada. Genstar’s next move, according to Ryan Clark, a managing director at the firm, may be similar to what it did in its Confie Seguros investment with another brokerage, or a managing general agent, yet with a few key differences. Genstar won’t build out another Hispanic-focused automobile insurance concern.
Online Brokerages Find New Ways to Innovate. Brokerage views on JP Associates, SpiceJet, Max India, Bharti Airtel. ET Now Nov 15, 2012, 10.59AM IST Read on to know what brokerages have to say about select stocks that are likely to be in action today: JP Associates: Bank of America Merrill Lynch maintains 'buy' on JP Associates, but has marginally upped the price target from Rs 112 to Rs 115. The brokerage says a jump in free cash flow and deleverage over FY12-15 remain the key catalysts. BofA-ML advises 'buy' on JP Associates as its trades at 21 per cent discount to NAV estimates. SpiceJet Ltd: Kotak Securities maintains 'buy' on SpiceJet, but has upped the price target from Rs 45 to Rs 50.
The brokerage says any reduction on the cost front led by declining fuel prices and/or appreciating rupee could bring a string of profitable quarters leading to sustained outperformance. Telecom Sector: Bullish on Bharti Airtel, Idea Cellular Kotak Securities has upped the price targets for telecom stocks after a damb squib response to 2G auctions.