Acordia Acquires Feeney Durler West Insurance Services

January 21, 2004

Acordia,Inc., the fifth largest insurance brokerage in the U.S., and a subsidiary of Wells Fargo & Company, acquired Feeney Durler West Insurance Services, LLC. The agency’s professional staff will continue serving clients from the same location at 187 Concourse Boulevard, Santa Rosa, Calif.

The acquisition closed Jan. 1, 2004. Terms of the transaction were not disclosed.

Feeney Durler West Insurance Services is a second generation, family-owned insurance agency, and is a product of a merger in 1996 between two long-term local agencies. That merger created the oldest active agency in Sonoma County, dating back to 1911. Currently, Feeney Durler West is ranked in the top ten independent agencies in the North Bay.

A full-service insurance broker, Feeney Durler West specializes in a variety of departments. Their client list is reflective of the business community in the San Francisco – North Bay area, with a heavy concentration of construction related accounts. The balance of their business consists of transportation risks, manufacturers, wineries, agribusiness and property owners.

“We’ll continue to provide top quality service to our clients the same as we have in the past,” said Michael K. Feeney, owner of Feeney Durler West Insurance Services LLC. “We’re all excited about this new association with Acordia. 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 the Wells Fargo connection. I am really delighted to be part of the long-term future of Acordia. As the Executive Vice President of the office, I will be working to personally ensure a seamless transition for our clients and staff.”

“Feeney Durler West Insurance Services LLC is an outstanding brokerage firm with very respected insurance professionals,” said Mark Freeman, Managing Director of Acordia California. “The addition of Feeney Durler West will strengthen our presence in California, namely the San Francisco – North Bay area, and further support Acordia and Wells Fargo’s commitment to satisfy all our clients financial needs and to help them succeed financially. We’re very pleased to expand on Wells Fargo’s commercial banking footprint in Santa Rosa, California”

“Acordia has built its reputation in the insurance brokerage world by acquiring retail brokerage operations around the country and also growing market share by seeing to satisfy all its customer’s insurance needs,” said Kevin W. Conboy, president and CEO of Acordia Inc. “Combining our national resources with great agencies like Feeney Durler West, who have local experience and expertise, enables us to meet the financial needs of a whole new group of customers.” Conboy said Acordia will continue to look for acquisition opportunities that fit its operating philosophy and that expand Wells Fargo’s reach both inside and outside its 23 banking states.

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