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Acordia renamed to Wells Fargo Insurance Services

Posted On: Feb. 5, 2007 12:00 AM CST

CHICAGO--Wells Fargo & Co. on Monday announced it is changing its commercial insurance brokerage unit's name from Acordia Inc. to Wells Fargo Insurance Services.

Wells Fargo acquired Acordia in May 2001. It said the name change will help customers immediately associate the brokerage with the Wells Fargo brand and the company's other financial services. The company was ranked the world's fifth-largest brokerage according to Business Insurance's 2006 ranking.

Also during 2007, the company will move its commercial brokerage operations closer to its individual brokerage operations, which operate under the name Wells Fargo Insurance.

"Our goal is to provide an exceptional customer experience, and making it easy for customers--commercial or consumer--to do business with us is one way we can do that," Wells Fargo Insurance Services Chairman, President and Chief Executive Officer Dave Zuercher said in a statement.