Wells Fargo Insurance Services Finalizes Broker Acquisition

Wells Fargo Insurance Services’ acquisition of ISU Stetson-Beemer Insurance, a commercial property/casualty and employee benefits insurance brokerage and consulting firm, closed on Sept. 1, 2011. Terms of the transaction were not disclosed.

Stetson-Beemer provides business and personal insurance programs and services, including property/casualty risk management, employee benefits, workers’ compensation, and personal auto, home and life insurance. The company has been in business for 88 years and has built a client base that includes local, regional and national businesses from a variety of industries, Wells Fargo said.

Wells Fargo Insurance Services, part of Wells Fargo & Company, has more than 200 offices in 37 states. Its 7,000 insurance professionals place more than $19 billion worth of risk premiums with experience in property, casualty, benefits, international, personal lines and life products.

Richard Schield, president of Stetson-Beemer, and his team of approximately 24 employees will join Wells Fargo Insurance Services’ Reno office.

“With an excellent reputation, Stetson-Beemer has been a strong insurance brokerage business in Reno and Northern Nevada since 1923,” said Greg Van Ness, regional managing director of Wells Fargo Insurance Services’ Sacramento/Central Valley region. “They will strengthen our growing presence in Nevada and further support Wells Fargo’s commitment to help customers succeed financially by addressing their insurance needs.”

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