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Wells Fargo Insurance acquires Prestige Professional Plans

IBR Staff Writer Published 06 January 2011

Wells Fargo Insurance Services USA, part of Wells Fargo, has acquired an Ohio-based employee benefits insurance brokerage firm Prestige Professional Plans.

Prestige Professional Plans, established 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. It also has experience in all plan types, including fully-insured plans, self-funded plans, high deductible health plans, and health savings accounts (HSAs).

Prestige Professional Plans owner Penny Profitt said that by joining Wells Fargo Insurance Services, the company has expanded the capabilities to better serve customers and to help them protect their businesses and employees. While the the company have a new name, the customers will continue to be served by the same team of insurance professionals.

Wells Fargo Insurance Services Midwest region regional managing director Dan Goldapp said that this will strengthen the growing presence in Ohio and further support Wells Fargo Insurance Services and Wells Fargo's commitment to help customers succeed financially.

The terms of the transaction were not disclosed.