Avance Backs UniVista Insurance to Build Portfolio
Private-equity newcomer Avance Investment Management is backing Florida agency UniVista Insurance Corp. as the firm begins building a portfolio of businesses likely to benefit from the expanding U.S. Hispanic market.
UniVista was founded in Miami by Iván Herrera and Ania Herrera, married Cuban immigrants. Mr. Herrera, who previously worked as an auto salesman and a real-estate agent, noticed in those roles that insurance was required in every transaction, he said.
His…
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