Fiserv Acquires Insurance Biz

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Fiserv has acquired Insurance Wholesalers Inc. The firm, based in Citrus Heights, Calif., will become part of the Distribution Solutions Division of Fiserv's Insurance Group. Details of the transaction were not disclosed.

Insurance Wholesalers generates leads resulting in the sale of term and universal life insurance products that cover the amount of an insured's mortgage, Fiserv said. Brian Pope, who founded the firm in 1991, will continue as president of the newly acquired company. The firm's 42 employees will join Fiserv.

"Insurance Wholesalers has a strong business model that enhances our distribution capabilities and fits our strategy to provide growth-oriented solutions to the insurance industry," said Jeff Yabuki, president and chief executive officer of Fiserv. "Adding Insurance Wholesalers to our existing insurance businesses allows us to add to our level of competitive differentiation."

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