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Wells Fargo Insurance Services Acquires ISU Stetson-Beemer Insurance

^{Published on 2011-09-28 08:48:00 - Market Wire}
 

RENO, Nev.--([ BUSINESS WIRE ])--Wells Fargo Insurance Services a" part of Wells Fargo & Company (NYSE:WFC)- announced today they have acquired ISU Stetson-Beemer Insurance, a commercial property and casualty and employees benefits insurance brokerage and consulting firm based in Reno, Nevada. The acquisition closed on September 1, 2011 and terms of the transaction were not disclosed.

"They will strengthen our growing presence in Nevada and further support Wells Fargoa™s commitment to help customers succeed financially by addressing their insurance needs."

aWith an excellent reputation, Stetson-Beemer has been a strong insurance brokerage business in Reno and Northern Nevada since 1923,a said Greg Van Ness, regional managing director of Wells Fargo Insurance Servicesa™ Sacramento/Central Valley region. aThey will strengthen our growing presence in Nevada and further support Wells Fargoa™s commitment to help customers succeed financially by addressing their insurance needs.a

Stetson-Beemer provides business and personal insurance programs and services, including property and casualty risk management, employee benefits, workersa™ compensation, and personal auto, home, and life insurance. For more than 80 years, the company has built a diverse client base including, local, regional, and national businesses from a variety of industries, Fortune 500 companies, and public entities throughout the United States. Richard Schield, president of Stetson-Beemer, and his team of approximately 24 employees will join Wells Fargo Insurance Servicesa™ Reno office.

aBy joining Wells Fargo Insurance Services, we have expanded our capabilities to better serve our clients and help them protect their businesses and employees in a changing environment,a said Schield. aWea™re excited to provide our clients with access to more resources, financial services, and products. While we will have a new name, our clients will continue to be served by the same team of dedicated professionals and receive the superior level of service theya™ve enjoyed in the past 88 years.a

About Wells Fargo Insurance Services

Wells Fargo Insurance Services is the fifth largest insurance brokerage in the world and the largest bank-owned insurance brokerage in the U.S. (Business Insurance, 2011) with more than 200 offices in 37 states. Its 7,000 insurance professionals place more than $19 billion* of risk premiums with experience in property, casualty, benefits, international, personal lines, and life products.

Wells Fargo Third Party Administrators and Wells Fargo Disability Management are ranked as the third largest multiline third party administrators that offer employee benefits, and property and casualty claims administration (Business Insurance.) For more information about Wells Fargo Insurance Services, visit [ www.wellsfargo.com/wfis ].

Wells Fargo & Company is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet ([ wellsfargo.com ] and [ wachovia.com ]), and other distribution channels across North America and internationally. With approximately 275,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortunea™s 2011 rankings of Americaa™s largest corporations. Wells Fargoa™s vision is to satisfy all our customersa™ financial needs and help them succeed financially.

*Figures include Wells Fargo Insurance Services USA, Inc., Wells Fargo Insurance, Inc., and Rural Community Insurance Services