Wells Fargo’s Insurance Unit Buys Reno Firm

September 30, 2011

The insurance unit of Wells Fargo & Co. has purchased ISU Stetson-Beemer Insurance, an insurance brokerage and consulting firm in Reno, Nev.

The purchase closed on Sept. 1. Terms of the deal were not disclosed.

Stetson-Beemer, founded in 1923, provides a range of insurance, including employee benefits and commercial property and casualty insurance. President Richard Schield and a team of about 24 employees will join Wells Fargo Insurance Services’ Reno office.

This is the second acquisition this year of a small firm announced by Chicago-based Wells Fargo Insurance Services USA Inc. The company announced in early January they acquired Prestige Professional Plans, a single office, employee benefits insurance brokerage firm located in Dayton, Ohio.

Topics Mergers

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