A Los Angeles-area insurance company has announced the addition of an industry veteran to its board of directors.
Worldwide Facilities LLC shared this week that it has hired John Addeo, the founder of three national insurance brokerage companies, as the newest member of its board.
“Worldwide Facilities will benefit greatly from Mr. Addeo’s experience and contacts,” said Davis Moore, chief executive officer of the company. “We look forward to a very positive and productive association.”
Addeo is the well-known founder of Confie Seguros, a nationwide insurance brokerage firm that specialized in serving the needs of the Hispanic community. He partnered with middle-market private equity firm Genstar to form the company in 2008, which was sold to ABRY Private Equity five years later.
During its time, Confie Seguros operated in 10 states and boasted 300 retail sales outlets.
Addeo is also the founder of USI Insurance Services Corp., which is now owned by Onex Partners, and Alliant Insurance Services Inc., acquired by KKR.
Addeo graduated from Manhattan College, after which he began his career with Peat, Marwick and Mitchell as a CPA. He later worked at a leading international insurance brokerage company, where he held a number of senior-level finance and operations positions during a 20-year tenure.
Addeo expressed excitement at his appointment to the wholesaler’s board.
“I have spent over 40 years in the insurance brokerage space, and am looking forward to leveraging that experience to assist Davis Moore and his management team in building and expanding this leading wholesale operation,” he said in a news release, “both organically and externally through acquisition.”
Worldwide Facilities is a national wholesale insurance broker and managing general agent that has been in business since 1970s. It operates in a number of specialty lines and offers contacts with carriers both domestically and overseas.
