Acordia Acquires Houston Agency

Acordia Inc., a subsidiary of Wells Fargo & Company, announced acquired Wisenberg Insurance + Risk Management, a privately held insurance and risk management firm in Houston, Texas. The acquisition closed September 1, 2003. Terms of the transaction were not disclosed.

Wisenberg Insurance + Risk Management has served clients since 1934, and the agency’s professional staff will continue serving clients from the same location at 24 Greenway Plaza, Suite 1100, Houston, Texas.

In addition to providing business, personal and employee benefits insurance to prominent individuals and businesses primarily based in Texas, Wisenberg also has a large motorsports and entertainment division that offers various risk management and insurance services to clients throughout the U.S., Puerto Rico and Canada.

Other risk management consulting services are offered through its Risk Analysts division. One of those unique services includes risk management assistance to non-subscribers, employers who opt out of the Texas Workers’ Compensation system.

“We’ll continue to provide top quality service to our clients the same as we have in the past,” said Jeff Pozmantier, president of Wisenberg Insurance + Risk Management. “Joining Acordia will be a great plus for our clients. Not only will we be able to expand our insurance and risk management resources to help protect our clients’ assets, we also hope to be able to help them grow their assets through our Wells Fargo connection.”

“Wisenberg Insurance + Risk Management is an outstanding brokerage firm with very respected insurance professionals,” said Dan Schull, regional managing director of Acordia’s Mountain West Region. “The addition of Wisenberg Insurance + Risk Management will strengthen our presence in Texas, and further support Acordia and Wells Fargo’s commitment to satisfy all our clients financial needs and to help them succeed financially.”

Topics Mergers & Acquisitions Texas