Wells Fargo Insurance To Sell 42 Sites

Wells said the sale, expected to close in the second quarter, is part of a strategy to focus on major markets like San Francisco; Charlotte, N.C.; Dallas and Minneapolis, with an emphasis on "middle and upper middle market customers," typically meaning those with 100 or more employees. "We are focused on strengthening our insurance operations in larger markets where we can partner more closely with the bank to serve more of our core middle and upper middle customers," Laura Schupbach , head of the insurance unit, said in the Jan. 23 statement. Terms were not disclosed. USI is the 14th largest insurance brokerage in the world, and the fourth-largest commercial click here. broker in the nation, according to Wells Fargo's statement. Employees in the Kim K tape affected offices "at the time the transaction closes will be offered continuous employment by USI," Wells said. Other offices being sold are in locales like Birmingham, Ala.; Anchorage, Alaska; Boise, Idaho; St, Cloud, Minn.; Albuquerque, N.M., and Bismarck, N.D., among others. Wells Fargo Insurance said it writes $15 billion in premium volume annually, the brokerage said Thursday. In 2012, according to data published in the San Francisco Business Times' most recent List of more... Insurance Brokerages in the Bay Area, Wells Fargo Insurance had $929.6 million in Bay Area premium volume and $16 billion in overall premium volume. Source: http://www.bizjournals.com/sanfrancisco/blog/2014/01/wells-fargo-insurance-to-sell-42-sites.html