NU Online News Service, Dec. 8, 3:50 p.m.EST

Wells Fargo Insurance Services Inc. said it acquired twoinsurance agencies earlier this month, one in Florida and the otherin Washington State.

The Chicago-based insurance brokerage, a subsidiary of SanFrancisco-based Wells Fargo & Company, said it has acquirediLeader Risk Management Solutions, a single-office insurancebrokerage firm located in Tampa, Fla., and Orca Bay Benefits, LLC,a single-office employee benefits insurance brokerage located inMercer Island, Wash.

The acquisitions were completed Dec. 1, Wells Fargo said, addingthat financial terms were not released.

Wells Fargo said iLeader, in business four years, provides riskmanagement services and insurance brokerage solutions to variousindustries. The firm works with businesses to lower costs, enhancecoverages and manage liabilities by evaluating their strategic,operational and hazard risks.

Michael Ortoll, iLeader managing principal and chief executiveofficer; Barbara Hoffman, account executive; and Oriana Collins,account manager, will join Wells Fargo Insurance Services.

Orca Bay was described by Wells Fargo as a provider of employeebenefits services including health care reimbursement arrangements,health care savings accounts, individual and large group medicalinsurance plans, and a full range of value-added benefits services.The firm has been in business since 2001.

"One cornerstone of Wells Fargo Insurance Services' marketgrowth has been acquiring retail brokerage operations that addunique capabilities to our national franchise," said Neal Aton,president and CEO of Wells Fargo Insurance Services.

He added, "By bringing iLeader and Orca Bay into our enterprise,we add great agencies and talent that support expansion of marketreach and customer resources. We will continue this deliberatestrategy to seek acquisition opportunities that bring meaningfulvalue to customers and deepen Wells Fargo's nationwide commitmentto insurance brokerage."