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Wells Fargo Acquires Retail Insurance Broker

Acquisition closed on October 1, 2009

Wells Fargo Insurance Services, part of Wells Fargo & Company, has acquired Sierra Self Insurance Services, a single office, a retail insurance broker in Grass Valley, California, northwest of Sacramento. The acquisition closed on October 1, 2009.

Reportedly, Sierra Self Insurance Services brokers excess liability, property, and workers’ compensation insurance and consults on the funding and structure of such coverages for large school district pools known as Joint Powers Authorities (JPA).

The company also focuses on California public school business and manages claims administration for property and liability coverage for those member school districts.

Michael Krill, an owner of Sierra Self Insurance Services, said: “We’ll continue to serve our customers the same ways we have in the past. Joining Wells Fargo is a great benefit for our customers. We’ll expand our capabilities to help customers protect their businesses and employees and help them grow their assets through Wells Fargo.”

Greg Van Ness, regional managing director of Wells Fargo Insurance Services, said: “Sierra Self Insurance Services has a highly respected team of professionals. The team will strengthen and further support Wells Fargo Insurance Services to satisfy all their financial needs and help them succeed financially.”

David Wood, head of insurance brokerage operations in the western US for Wells Fargo Insurance Services, said: “Sierra Self Insurance Services is an outstanding retail brokerage firm and we’re excited to welcome their team of professionals to Wells Fargo. They will strengthen our growing presence in California and further support Wells Fargo Insurance Services and the Wells Fargo commitment to help our customers succeed financially.”