Acordia, Inc. Acquires Sacia Risk Solutions, Agency Changes Its Name to Digital Risk Managers.Business Editors CHICAGO--(BUSINESS WIRE)--March 11, 2004 Acordia, Inc., America's fifth largest insurance brokerage and a subsidiary of Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. & Company (NYSE NYSE See: New York Stock Exchange :WFC WFC Wi-Fi Connection (Nintendo gaming service) WFC Wide-Field Camera WFC World Financial Center (New York) WFC Workforce Center WFC World Federation of Chiropractic WFC World Food Council ), announced today that it acquired the assets of Sacia Risk Solutions, headquartered in Seattle Seattle (sēăt`əl), city (1990 pop. 516,259), seat of King co., W Wash., built on seven hills, between Elliott Bay of Puget Sound and Lake Washington; inc. 1869. , Wash. The organization will be known as Digital Risk Managers and will operate as a separate underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. organization from Acordia. The acquisition was completed March 1. Terms of the transaction were not disclosed. John Sacia, former chief executive officer of Sacia Risk Solutions, has been working as Managing Director of Acordia, Inc.'s Northwest operations since May 2003. Anne Anne, British princess Anne (Anne Elizabeth Alice Louise), 1950–, British princess, only daughter of Queen Elizabeth II and Prince Philip, duke of Edinburgh. She was educated at Benenden School. DeVries has been named Senior Vice President and Director of Operations for Digital Risk Managers, and Kevin Baughn has also joined the Digital Risk Managers team as an Underwriting Associate. Digital Risk Managers will continue to serve its existing client base of brokers and agents nationwide through its professional liability, technology and network risk product offerings, including its flagship program, the WebNet Protection(R) program. The business will be located at 520 Pike pike, in zoology pike, common name for the family Esocidae, freshwater game and food fishes of Europe, Asia, and North America. The pike, the muskellunge, and the pickerel form a small but well-known group of long, thin fishes with spineless dorsal fins, St. 20th Floor, Seattle, Wash. 98101. "Other than a new name, it will be business as usual for customers. The Digital Risk Managers team will continue to provide the superior level of service their clients/agents previously enjoyed," said DeVries. "Customers who currently do business with Sacia Risk Solutions will continue to work with the same dedicated, professional staff, and their insurance coverage will continue under existing policies with Digital Risk Managers," said DeVries. "We are excited to be able to provide enhanced capabilities and resources to further develop the WebNet Protection(R) program and are pleased to continue working with Arch Specialty Insurance as well as the other markets who have expressed their support of the acquisition." Significant Acquisitions Since May 1, 2001 ---------------------------------------------------------------------- H&R Phillips, Inc. New York December 2001 -------------------------------- ------------------- --------------- Risk Management Services, Inc. Tennessee December 2001 -------------------------------- ------------------- --------------- Alcalay Cohen, Inc. d/b/a California February 2002 General Insurance -------------------------------- ------------------- --------------- Daniel Nowels Agency Colorado November 2002 -------------------------------- ------------------- --------------- Pate Insurance Agency Alaska January 2003 -------------------------------- ------------------- --------------- RMC2 Illinois & Florida July 2003 -------------------------------- ------------------- --------------- Care Insurance Services Nebraska August 2003 -------------------------------- ------------------- --------------- Wisenberg Insurance + Risk Texas September 2003 Management -------------------------------- ------------------- --------------- McDermott Brokerage Nebraska September 2003 -------------------------------- ------------------- --------------- Goodritz-Emanuel Pennsylvania September 2003 -------------------------------- ------------------- --------------- Malenas Insurance Agency Ohio October 2003 -------------------------------- ------------------- --------------- Feeney Durler West California January 2004 -------------------------------- ------------------- --------------- About Acordia Acordia, Inc., headquartered in Chicago, Ill., is the world's sixth largest insurance brokerage and the largest bank-owned insurance brokerage in the U.S., with over 150 offices in 38 states. Its 4,500 insurance professionals place in excess of $6.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. Acordia is a subsidiary of Wells Fargo & Company, a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company with $381 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,900 stores, the internet (wellsfargo.com), and other distributions channels across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and elsewhere internationally. Wells Fargo Bank, N.A. is the only "Aaa"-rated bank in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Acordia is also a member of HLA HLA human leukocyte antigens. HLA abbr. human leukocyte antigen HLA (human leuckocyte antigen) Global Network. HLA Global, a partnership between London-based Heath heath, tract of open land heath, tract of open land characterized by a few scattered trees, abundant moss cover, and numerous low shrubs, principally of the heath family (see heath, in botany). Lambert Lambert may refer to
For more information about Digital Risk Managers, visit www.drisk.com. For more information about Acordia, visit www.acordia.com or call 312.423.2531. |
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