Acordia Purchasing Assets of Somerton Student Insurance Services

Acordia Inc., a bank-affiliated insurance brokerage and a subsidiary of Wells Fargo & Company, acquired the assets of Somerton Student Insurance Services in Rancho Murieta, Calif. The acquisition closed Aug. 1, 2005. Terms of the transaction were not disclosed.

Somerton Student Insurance Services has served customers since 1996, and the agency’s professional staff will be moving to Acordia’s Rancho Cordova office and will be serving customers from that location at 11017 Cobblerock Drive, Suite 100, Rancho Cordova, Calif., 95670-6049, telephone (916) 231-1741 or toll free (800) 257-4860.

Somerton Student Insurance Services is a provider of student insurance services throughout the United States, serving five consortiums and more than 200 individual educational institutions comprising of over 150,000 insured students. Somerton Student Insurance Services offers students and student-related customers health (domestic and/or international), blanket accident, catastrophic accident, athletic accident, major medical supplements, study abroad, travel assistance, youth association liability, dental and vision, and pharmacy benefits.

“Somerton Student Insurance Services is an outstanding brokerage firm with very respected insurance professionals,” said H. David Wood, Regional managing director of Acordia’s West Region. “The addition of Somerton Insurance Services will strengthen our presence in Northern California, and further support Acordia and Wells Fargo’s commitment to satisfy all our customers’ financial needs and to help them succeed financially.”