Driver-Alliant Acquires Gaddy Ward

May 5, 2004

Operating out of a single location in Lodi, Calif., Gaddy Ward & Company Insurance Brokers announced the sale of their agency to Driver-Alliant Insurance Services Inc., a wholly-owned subsidiary of Connecticut-based Alliant Resources Group Holdings Inc.

Gaddy Ward will continue to be managed by its founders and industry
veterans, Scott Gaddy and Stan Ward. Gaddy Ward is a property and casualty agency focusing on commercial construction and surety bond insurance products.

Gaddy Ward has grown into one of Northern California’s most successful insurance agencies, serving the construction industry and posting revenues in 2003 in excess of $4 million. Gaddy Ward’s customer base covers a broad range of commercial clients, consisting primarily of medium-sized commercial contractors in California’s Central Valley and the Greater San Francisco Bay

“Our decision to partner with Driver-Alliant was a proactive measure deemed beneficial to all of our various stakeholders, namely our employees, our clients and our shareholders,” Gaddy said.

Driver-Alliant is one of the largest insurance brokerage operations in the West and their expertise includes construction.

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