Wells Fargo Acquires Emar Group

October 20, 2008

San Francisco-based Wells Fargo Insurance Services, part of Wells Fargo & Co., has acquired the EMAR Group, an independently owned commercial insurance agency headquartered in Livingston, N.J., with an office in Florida. Terms of the agreement were not disclosed.

Founded in 1971 by Emil Solimine in New Jersey, EMAR is an agency in the Tri-state Region that serves middle market and upper middle market clients, as well as risk management customers. The agency works with businesses in diversified industries with a concentration in transportation, construction, real estate and financial institutions industries. EMAR also has access to specialty market programs in small business niches, including the limousine services and restaurant industries.

“Risk management is a key product area for our middle market customers and large corporate clients,” said Dave Zuercher, head of Wells Fargo’s International and Insurance Services Group. “EMAR will significantly expand and build on our commercial insurance capabilities on the east coast. It’s another opportunity for Wells Fargo to gain new customers and to achieve our vision of satisfying all of our customers’ financial needs and help them succeed financially.”

“Joining up with the EMAR team will increase our presence significantly in New Jersey,” said Gary Tully, head of Wells Fargo Insurance Services Northeast Inc. “With our recent acquisition of Herder-Terricone Associates in Three Bridges and the expansion of Wells Fargo Regional Commercial Banking in the Tri-state Region, we’re in a strong position to meet even more of the financial needs of New Jersey companies and consumers.”

“We’ve reached a point in the development of our agency that the breadth of products and services provided by Wells Fargo will help bring our business to the next level,” said Solimine.

Solimine and his son, David, will continue bringing the EMAR relationship business model to companies in Florida and New Jersey.

Source: Wells Fargo Insurance Services

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