SAN FRANCISCO, Sept. 28 /PRNewswire-FirstCall/ -- Wells Fargo Insurance,
Inc., a subsidiary of Wells Fargo & Company (NYSE: WFC), has acquired the crop
insurance business from Portland, Indiana-based JS Crop Insurance, Inc. (JS
Crop), expanding Wells Fargo's reach to farmer-customers in Indiana and Ohio.
Terms of the acquisition were not disclosed.
Wells Fargo provides crop insurance services to over 6,000 farmers in
Iowa, Illinois, Minnesota, Montana, North Dakota, Nebraska and South Dakota.
"We look forward to working with the team at JS Crop Insurance on a smooth
transition and to bringing our combined expertise to new and existing
customers," said Dan Monson, senior vice president, Wells Fargo Insurance. "JS
Crop and their team have a solid reputation for providing top quality advice
and service and we will continue with that tradition."
"Customers who have crop insurance policies with JS Crop will continue to
receive the superior customer service from the dedicated staff they know,"
said Jeff Smith, founder of JS Crop. "Now our customers and insurance sales
representatives will have access to one of the largest insurance providers in
the country, as well as Wells Fargo products and services." The Indiana-based
team will partner with Wells Fargo agriculture bankers in Indiana and Ohio to
provide customers crop insurance and risk management solutions for their
operations.
JS Crop Insurance was founded in 1988 by Jeff Smith and managed by Smith
and his wife, Agnes Smith, who have both joined Wells Fargo Insurance. The
company has grown to serve over 1,300 customers. The Smiths have won several
awards, including the Farmers Mutual President's Award and Statesman Award for
Indiana and Ohio, as well as the Rural Community Insurance Bronze, Silver and
Platinum Awards. They are members of the National Crop Growers Association of
Independent Agents, Indiana Seed Trade Organization, Indiana Plant Feed &
Agricultural Chemicals Association and Professional Insurance Agents.
Wells Fargo & Company is a diversified financial services company with
$435 billion in assets, providing banking, insurance, investments, mortgage
and consumer finance to more than 23 million customers from more than 6,000
stores and the internet (wellsfargo.com) across North America and elsewhere
internationally. Wells Fargo Bank, N.A. is the only bank in the United States
to receive the highest possible credit rating, "Aaa," from Moody's Investors
Service.
SOURCE Wells Fargo & Company
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Related links:
http://www.wellsfargo.com
CONTACT:
media, Melissa Morey, +1-415-396-4417, or
investors, Bob Strickland, +1-415-396-0523, both of Wells Fargo &
Company
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