Wells Fargo Insurance Services Inc. has announced its purchase of American Med-Scan Inc. in Carmel, Ind.
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The acquisition bolsters the parent Wells Fargo & Co.'s presence in Indiana, where it has 38 branches, 10 mortgage offices, 15 consumer finance offices, a regional commercial banking branch, and five insurance brokerages, the company said Tuesday. The deal's terms were not disclosed.
Wells Fargo Insurance Services 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 annually.
