SOURCE: Wells Fargo Insurance Services

October 17, 2007 15:50 ET

Wells Fargo Third Party Administrators Acquires J. Smith Lanier & Co. Administrators, Inc.

America's Largest Bank-Owned Third Party Administration Company Purchases Georgia-Based TPA

CHICAGO, IL--(Marketwire - October 17, 2007) - Wells Fargo Third Party Administrators, Inc., a subsidiary of Wells Fargo & Company, announced today that they acquired JSL Administrators, with offices in Newnan, Georgia and Fayetteville, North Carolina. The acquisition closed October 1, 2007, and terms of the transaction were not disclosed.

JSL Administrators (JSLA) is a wholly owned subsidiary of J. Smith Lanier & Co., and was incorporated by J. Smith Lanier & Co. in 1997. JSLA administers medical, dental, and FSA claims for self-insured customers with 100 to 3,000 employees. The TPA's professional staff will continue serving customers from the same locations at 47 Postal Parkway, Newnan, GA 30263 and 201 Hay Street Suite 302, Fayetteville, NC 28301.

"The affiliation with Wells Fargo TPA will give us access to additional resources and vendors that will allow us to enhance our service capabilities for our customers," said J. Michael Houser, President & CEO of JSLA. "The alignment with a well known and highly respected TPA will help us compete in the competitive marketplace for self-funded employee benefits administration within the brokerage community."

JSLA is a TPA which provides administrative services including claims processing, cost management services, and reporting to customers, as well as membership and eligibility maintenance, plan document preparation, and benefit plan consultation.

"JSLA is an outstanding TPA with a highly respected team of insurance professionals," said Andy Paterno, Regional Managing Director of Wells Fargo Insurance Services' Mid-Atlantic Region. "They will strengthen our presence in Georgia and North Carolina and further support Wells Fargo TPA in its business model for continued growth and in its commitment to quality service for our self-funded customers."

"We've grown to become one of America's largest brokerage companies by combining our national resources with great local agencies like JSLA," said Dave Zuercher, President and Chief Executive Officer of Wells Fargo Insurance Services. "We will continue to look for acquisitions that fit our operating philosophy and parent footprint, especially in the 23 states in which Wells Fargo has banks established."

About Wells Fargo Insurance Services

Wells Fargo Insurance Services, formerly Acordia, Inc., is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with more than 150 offices in 38 states. Its 4,500 insurance professionals place more than $11.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. Wells Fargo acquired Acordia in May of 2001.

Wells Fargo & Company is a diversified financial services company with $549 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."

For more information about Wells Fargo Insurance Services, visit www.wellsfargo.com/wfis or call 312.423.2531.

Contact Information


  • CONTACT:
    Ellen M. Sievert
    Director of Communications
    Wells Fargo Insurance Services Inc.
    312.423.2531