CHICAGO, Nov. 9, 2017 /PRNewswire/ -- Hub International
Limited (Hub), a leading global insurance brokerage, announced
today that it has signed a purchase agreement to acquire the assets
of Wells Fargo Insurance, Inc.'s crop insurance broker business
(Wells Fargo Crop). Terms of the agreement were not
disclosed.
With offices in South Dakota,
North Dakota, Minnesota, Iowa, Nebraska and Indiana, Wells Fargo Crop Insurance Agency
offers insurance solutions to protect agriculture-related
operations. Representing the top crop insurance providers, Wells
Fargo Crop provides insurance brokerage services for more than 130
types of crops, plus standard federal multi-peril and crop hail
policies. It also helps farmers protect their operations with
programs such as revenue protection and state-specific
offerings.
Rene LeVeaux, President of Hub
International Mountain States Limited (Hub Mountain), said, "Hub
Mountain is aggressively investing in its crop and agriculture
business. This acquisition will position Hub Mountain as one of the
largest crop brokers in the Midwest and Northwest. As such, we will
continue to provide additional resources to ensure our crop and
agriculture clients receive the best products and service to
protect their operations."
Following the acquisition, the Wells Fargo Crop team members
will join Hub Mountain, continuing to service and support clients.
Jeff Kemink, National Crop Insurance
Manager of Wells Fargo Crop, and Jean
Hinsverk, Assistant VP and Operations Manager, will join Hub
Mountain in leadership roles. Kemink will report to LeVeaux and
Hinsverk directly to Kemink with a close partnership with
Wayne Dauwen, COO of Hub
Mountain.
"Our clients will continue to receive the same dedicated sales
and service support from team members who have assisted them in the
past with their crop and operations protection," said Kemink. "By
joining Hub, they will also benefit from Hub's extensive network of
insurance specialists in management liability, employee benefits
and risk services to best help them protect and grow their
businesses."
About Hub's M&A Activities
Hub International
Limited is committed to growing organically and through
acquisitions to expand its geographic footprint and strengthen
industry and product expertise. For more information on the
Hub M&A experience, visit WeAreHub.com.
About Hub International
Headquartered in Chicago, IL, Hub International Limited is a
leading global insurance brokerage that provides property and
casualty, life and health, employee benefits, investment and risk
management products and services from offices located throughout
North America. For more information, please visit
hubinternational.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a
diversified, community-based financial services company with
$1.9 trillion in assets. Wells
Fargo's vision is to satisfy our
customers' financial needs and help them succeed financially.
Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance,
investments, mortgage, and consumer and commercial finance through
more than 8,400 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42
countries and territories to support customers who conduct business
in the global economy. With approximately 268,000 team members,
Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on
Fortune's 2017 rankings of America's largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
HUB Media: Marni
Gordon
Phone: 312-279-4601
Marni.gordon@hubinternational.com
HUB M&A: Clark Wormer
Phone: 312.279.4848
Clark.wormer@hubinternational.com
Wells Fargo Media: Sarah Hatch
505-818-7480
Sarah.hatch@wellsfargo.com
Wells Fargo Investor Relations: John Campbell
(415) 396-0523
John.m.campbell@wellsfargo.com
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SOURCE Hub International Limited