Wells Fargo Insurance Services Inc., has acquired the Huntersville, N.C., book of healthcare business of Arthur J. Gallagher & Company. Terms of the deal were not released.
Wells Fargo Insurance Services, a subsidiary of San Francisco-based Wells Fargo & Company said the deal closed Oct. 22.
Pam Kirks, senior vice president at Gallagher, and Denise Malmberg, an assistant vice president at Gallagher, will join Wells Fargo Insurance Services and continue to manage the accounts, the company said.
“The acquisition of this book of business continues to strengthen our North Carolina operations,” said Stephen Smith, senior vice president, managing director of Wells Fargo Insurance Services, in a statement. “It also further enhances our depth of talent in the healthcare risk management sector, a key focus for growth going forward.
A Gallagher spokeswoman would not reveal financial details of the book, but said the deal only involves the transfer of the two named employees. She added that Gallagher still remains very strong in the healthcare business.
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