Wells Fargo Announces Strategic Alliance With Great American Insurance Group
11 12월 2007 - 11:44PM
Marketwired
CHICAGO, IL , said it has formed a strategic alliance between
its Wells Fargo Special Risks, Inc. subsidiary and Great American
Custom Insurance Services Division of Great American Insurance
Group, a leading underwriter of specialty property and casualty
insurance.
Wells Fargo Special Risks, Inc. will develop and administer
specialty business on behalf of Great American Custom. This new
relationship will expand the range of insurance and risk management
products and services that Wells Fargo Special Risks offers
customers in the specialized program and affinity market
segments.
"Great American Custom has demonstrated significant knowledge of
and commitment to commercial specialty insurance," said Larry
Sorensen, president of Wells Fargo Special Risks, Inc. "This
alliance will strengthen our current position to quickly identify
and implement new opportunities with growing programs, providing
tailored risk management solutions for customers with unique
insurance requirements. It will also enable us to further support
the strategy of Wells Fargo Insurance Services and the Wells Fargo
commitment to help its customers succeed financially."
"We are pleased to enter into this alliance with Wells Fargo
Special Risks, Inc.," said Thom Smith, divisional president of
Great American Custom. "Its principals have both technical
expertise and significant experience in developing and successfully
managing many specialty lines and classes of business. In aligning
with Wells Fargo Special Risks, Inc., we will leverage our
insurance and risk management resources with their proven
distribution and administration capabilities. This relationship
will serve the growth strategies of both organizations."
"This new alliance reflects our focus on aligning our business
units with quality insurance companies, which provide both
financial strength and value-added services to our customers. It
will enhance our ability to provide specialized products and
services that meet our customers risk management needs," said Dave
Zuercher, head of Wells Fargo Insurance Services.
About Wells Fargo Insurance Services
Wells Fargo Insurance Services, Inc., formerly Acordia, Inc., is
the fifth-largest insurance brokerage and the largest bank-owned
insurance brokerage in the United States, with 170 offices in 38
states. Its 5,000 insurance professionals place more than $15.5
billion of risk premiums with expertise in property, casualty,
benefits, international, personal lines and life products. Wells
Fargo acquired Acordia in May of 2001.
Wells Fargo & Company is a diversified financial services
company with $549 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."
For more information about Wells Fargo Insurance Services, visit
www.wellsfargo.com/wfis or call 312.423.2531.
About Great American Insurance Group
Great American Custom Insurance Services is a full-service
underwriting division of Great American Insurance Group that
specializes in building long-term producer relationships and
customized business solutions in the commercial primary and excess
casualty markets.
Great American Insurance Group is engaged primarily in property
and casualty insurance, focusing on specialized commercial products
for businesses, and in the sale of annuities and supplemental
insurance products. Great American Insurance Group insurers are
subsidiaries of American Financial Group, Inc. (NYSE: AFG) (NASDAQ:
AFG).
For more information about Great American Insurance Group's
products and services, please visit
www.GreatAmericanInsurance.com.
Media Ellen Sievert Wells Fargo 312-423-2531 Anne N. Watson
Great American 513.579.6652
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