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While Wells Fargo insurance services unit — among the largest insurance brokers in the U.S. — remains financially healthy with strong cash flow, it doesn’t contribute much to the bank’s overall return on equity.

(Bloomberg) – Wells Fargo & Co. is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said.

The San Francisco-based lender has begun reaching out to private equity firms to gauge interest in Wells Fargo Insurance Services USA Inc., said the people, who asked not to be identified because the matter isn’t public.

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