Wells Fargo Insurance Services, Inc. – America’s largest bank-owned insurance brokerage and a subsidiary of Wells Fargo & Company (NYSE:WFC) – said today that it has acquired Carmel, Indiana-based American Med-Scan, Inc. The acquisition adds to Wells Fargo’s diversified Indiana presence: 38 banking stores, 10 mortgage stores, 15 consumer finance stores, a regional commercial banking office and 5 insurance brokerage offices.
Company shareholder Fred Day and four American Med-Scan team members will continue their responsibilities with Wells Fargo Insurance Services, folding their existing operations into the Wells Fargo Indianapolis office. Terms of the transaction were not disclosed.
“We want to offer expanded services and support to American Med-Scan’s customers as we continue to expand in the Indianapolis area,” said John M. Murphy, managing director of Wells Fargo Insurance Services’ office in Indianapolis.
“We’re pleased to join a well respected organization that will enable us to expand the insurance and risk management solutions we deliver to our customers,” said American Med-Scan’s Fred Day. “Our customers will receive the same great service from the same team of committed professionals, but they’ll now have access to a broader range of resources and services to help them succeed financially.”
“We’ve grown to become one of America’s largest insurance brokerage companies by combining our national resources with great local agencies like American Med-Systems, Inc.,” said Dave Zuercher, president and CEO of Wells Fargo Insurance Services. “We’ll continue to look for agency acquisitions that fit our vision, values and geographic needs.”
Wells Fargo Insurance Services, Inc. is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with 171 offices in 37 states. Its 5,200 insurance professionals place $11.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. For more information about Wells Fargo Insurance Services, visit www.wellsfargo.com/wfis.
Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody’s Investors Service, “Aaa,” and Standard & Poor’s Ratings Services, “AAA.”
Contacts:
Dave Hock, 650-839-6244
(Media)
dwh@abdi.com
