Acordia’s American E&S Insurance Operation Acquires RMC2

American E&S Insurance Brokers of New York Inc. announced today the acquisition of RMC2, LLC, a national excess and surplus insurance broker with offices in the Chicago area and West Palm Beach, Fla. American E&S is a wholly owned subsidiary of Chicago-based Acordia, Inc., a Wells Fargo company.

The acquisition closed July 1, 2003. Terms of the transaction were not disclosed.

RMC2 has been servicing clients nationally since 2001, and the agency’s professional staff will continue serving clients from its locations in Chicago and West Palm Beach.

The agency built its reputation on handling large, complex, specialized commercial property risks in select niches including manufacturing, real estate, financial and technical industries.

Since 1980, American E&S (AE&S), headquartered in San Francisco, Calif., has provided an important link between clients, brokers and specialty underwriters. AE&S is committed to providing professional specialty products and services by building partnerships with their clients and their markets. AE&S prides itself on giving their products the most timely, accurate and affordable solution to the market request.

Acordia, Inc., headquartered in Chicago, Ill., is the world’s sixth largest insurance brokerage and the largest bank-owned insurance broker in the U.S., with 147 offices in 38 states. Its 4,500 insurance professionals place in excess of $6.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. Acordia is a subsidiary of Wells Fargo & Company, a $370 billion diversified financial services company.