SOURCE: Acordia, Inc.

December 18, 2006 16:43 ET

Acordia, Inc. Acquires Assets of Pete Berolatti Insurance Agency

CHICAGO, IL -- (MARKET WIRE) -- December 18, 2006 -- Acordia, Inc., America's largest bank-affiliated insurance brokerage and a subsidiary of Wells Fargo & Company (NYSE: WFC), acquired the assets of Pete Berolatti, d/b/a Pete Berolatti Insurance Agency in Parkersburg, W. Va.

The acquisition closed November 1, 2006. Terms of the transaction were not disclosed.

Pete Berolatti Insurance Agency has built its reputation by providing individual and group benefit insurance products for its business and individual customers. The agency's staff will continue service of customers from the Acordia office at 39 Twelfth Street, Parkersburg, W. Va. 304.485.4475.

Pete Berolatti, owner of Pete Berolatti Insurance Agency and Senior Vice President of Acordia, said, "I am excited about the significant long-term benefit for my customers through the association with Acordia. This acquisition will provide a greater array of products to offer to our customers. This is a definite win-win for everyone."

Andy Paterno, Director of Acordia's Mid-Atlantic Region, noted, "We are pleased to welcome Pete and his staff to our team. They will bring great value to our organization. They have developed an excellent reputation with their customers and the insurance underwriting community."

About Acordia

Acordia, Inc., headquartered in Chicago, Ill., is the world's fifth largest insurance brokerage and the largest bank-owned insurance brokerage in the U.S., with over 150 offices in 38 states. Its 4,500 insurance professionals place in excess of $8.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products.

Acordia is a subsidiary of Wells Fargo & Company, a diversified financial services company with $483 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,100 stores and the Internet (www.wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. has the highest possible credit rating, "Aaa," from Moody's Investors Service and the highest credit rating given to a U.S. bank, "AA+," from Standard & Poor's Ratings Services.

For more information about Acordia, visit www.acordia.com or call 312.423.2531.

Contact Information

  • Contact:
    Ellen M. Sievert
    National Director Corporate Communications
    Acordia, Inc.
    312.423.2531