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Wells Fargo Insurance acquires assets of Professional Benefits Associates

Wells Fargo Insurance Services, a subsidiary of Wells Fargo & Company, has acquired the assets of North Carolina's Professional Benefits Associates.

Wells Fargo said that it already has 33 mortgage stores and 14 consumer finance stores in North Carolina, US.

Professional Benefits Associates provides individual and self-insured group benefit products for businesses and individual customers. Professional Benefits’s principals Keith Greene and Randy Southard and their team will transition into the Wells Fargo Insurance Services office in Burlington, North Carolina. Terms of the transaction were not disclosed.

Dave Zuercher, president, chairman and CEO of Wells Fargo Insurance Services, said: We’ve grown to become one of America’s largest insurance brokerage companies by combining our national resources with great local agencies like Professional Benefits Associates. We’ll continue to look for agency acquisitions that advance and strengthen our vision, values and geographic interests across the country.