Wells Fargo Insurance Services Inc., a subsidiary of Wells Fargo & Co., said it has formed a strategic alliance between its Wells Fargo Special Risks Inc. unit and Great American Insurance Group.
The special risks unit is to develop and administer specialty business on behalf of Great American Custom, a unit of the Cincinnati underwriter of specialty property and casualty insurance.
This relationship expands 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.
Wells Fargo Insurance Services, 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 a year, employing expertise in property, casualty, benefits, international, personal lines, and life products. Wells bought Acordia in May 2001.
Wells Fargo Insurance Services, which is based in Chicago, announced the alliance Tuesday.
