Wells Fargo Insurance Services USA Inc. announced Wednesday it bought Prestige Professional Plans, a single office, employee benefits insurance brokerage firm located in Dayton, Ohio.
Prestige, which launched in 1985, provides business and individual customers with employee benefits consulting and brokerage services including, medical, dental, life, vision, disability, and various other health insurance plans. Prestige offers fully-insured plans, self-funded plans, high deductible health plans, and health savings accounts.
“By joining Wells Fargo Insurance Services, we have expanded our capabilities to better serve our customers and to help them protect their businesses and employees,” said Penny Profitt, owner of Prestige Professional Plans. “We’re excited to provide our customers with access to more financial services and products. While we have a new name, our customers will continue to be served by the same team of insurance professionals and will receive the superior level of service they have enjoyed for over 25 years.”
The price of the deal was not disclosed.
Dan Goldapp, the regional managing director of Wells Fargo Insurance Services’ Midwest region, said the deal will “strengthen our growing presence in Ohio and further support Wells Fargo Insurance Services and Wells Fargo’s commitment to help our customers succeed financially.”
The Chicago-based unit of Wells Fargo is the fifth largest insurance brokerage in the world and the largest bank-owned insurance brokerage nationally with more than 200 offices in 37 states. Its 9,200 insurance professionals place more than $16 billion of risk premiums with experience in property, casualty, benefits, international, personal lines, and life products.