Old National Insurance (ONI), a subsidiary of Evansville-based Old National Bancorp, has embarked on an agreement to acquire the insurance accounts of Wells Fargo Insurance (WFI), for an undisclosed sum.
The accounts, which include mainly commercial property and casualty, are currently being serviced by WFI’s Evansville branch office.
Old National Insurance president and CEO Tom Flynn said that the company is pleased with this acquisition, and it looks forward to continuing to deliver the same exceptional service that Evansville-area WFI clients have come to expect.
"Our service-focused team of insurance experts is ready to exceed client expectations and earn their continued business," Flynn added.
Pending satisfaction of customary closing conditions, the transaction is expected to conclude on 1 December. Under the terms of the agreement, current WFI sales executives Rollie Lehnus and Mike Retter will join ONI’s Evansville commercial insurance sales team.
Old National Bancorp president and CEO Bob Jones commented, "Meeting the insurance needs of our clients, in Evansville and beyond, is an integral part of Old National’s mission to be a full-service financial institution."
Headquartered in Indianapolis with offices across the Midwest, Old National Insurance insures thousands of individuals and businesses regionally, nationally and internationally.
It offers an array of professional services including retail property and casualty, employee benefits, third party administration, risk management and alternative risk solutions.