Auto Insurance Ugu – Founded in 1989, United Automobile Insurance Company is a provider of non-standard car insurance products in the US with a primary focus on serving various Florida and Texas markets. The company’s unique package of capabilities comes from its two operating companies, namely United Automobile Insurance Company (“UAIC”), a regulated property and accident insurance company that focuses on the non-standard car market, and the United Group Underwriters, Inc. (“UGU”), a CEO general agency that specializes in sourcing and underwriting non-standard auto insurance policies. The company’s products are offered primarily via a network of approximately 1, 780 independent agencies and brokers.
VPC’s investment will be used to improve United Autos Balance and support several growth initiatives in its core markets throughout Florida and Texas. This investment comes after a strategic relocation of United Auto’s Business and a renewed focus from the company on improving its leading position in Florida and Texas.
Auto Insurance Ugu
“With an impressive track record for success and an ability to really understand our business, Victory Park Capital was the clear choice for us. The company was able to offer tremendous flexibility and developed a unique financing solution that will enable us to accelerate our growth plans, while we also reached our many other business goals. To grow our service capacity ” – Founder and CEO of United Auto, Richard Parrol.
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As part of the transaction, Richard Levy, founder and CEO of VPC, and Charles Asfour, partner at VPC, are connected to United Auto’s board of directors to help advise on strategic growth initiatives.
“With decades of the industry’s leading experience with non-standard car insurance, a renewed focus on its core markets and a very strong balance, we are convinced that United Auto is well positioned to execute its growth strategy. We could not be more excited to collaborate with the United Auto team during this next chapter of growth.”
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