Wells Fargo Insurance Services USA Inc. of Chicago has acquired Prestige Professional Plans, a single-office employee benefits insurance brokerage in Dayton, Ohio.
The price wasn't disclosed.
Prestige, started in 1985, provides business and individual customers with benefits consulting and brokerage services, including, medical, dental, life, vision and disability, and other health insurance plans. Prestige Professional Plans offers fully insured, self-funded and high-deductible health plans, as well as health savings accounts.
"By joining Wells Fargo Insurance Services, we have expanded our capabilities to better serve our customers," Penny Profitt, the owner of Prestige Professional Plans, said in a press release Wednesday. "While we have a new name, our customers will continue to be served by the same team of insurance professionals."
Dan Goldapp, managing director of Wells Fargo Insurance Services' Midwest region, said in the press release that the acquisition will "strengthen our growing presence in Ohio."
The Wells Fargo & Co. unit is the world's fifth-largest insurance brokerage and the nation's largest bank-owned insurance brokerage, with more than 200 offices in 37 states. Its 9,200 professionals place more than $16 billion of risk premiums and have experience in property, casualty, benefits, international, personal lines and life products.