To support expansion of market reach
Wells Fargo Insurance Services, part of Wells Fargo & Company, has acquired iLeader Risk Management Solutions, a single office, insurance brokerage located in Tampa, Florida and Orca Bay Benefits, a single office, employee benefits insurance brokerage located in Mercer Island, Washington. The separate acquisitions closed December 1.
The company said that iLeader team members Michael Ortoll, managing principal and CEO; Barbara Hoffman, account executive; and Oriana Collins, account manager will join Wells Fargo Insurance Services.
Neal Aton, president and CEO of Wells Fargo Insurance Services, said: One cornerstone of Wells Fargo Insurance Services’ market growth has been acquiring retail brokerage operations that add unique capabilities to our national franchise. By bringing iLeader and Orca Bay into our enterprise, we add great agencies and talent that support expansion of market reach and customer resources. We will continue this deliberate strategy to seek acquisition opportunities that bring meaningful value to customers and deepen Wells Fargo’s nationwide commitment to insurance brokerage.
Florida–based iLeader provides risk management services and insurance brokerage solutions to industries such as healthcare, professional employee organization PEO/staffing, transportation, retail, hospitality and private equity.
Orca Bay provides employee benefits services including, healthcare reimbursement arrangements (HRAs), healthcare savings accounts (HSAs), individual and large group medical insurance plans, and a full range of value added benefits services.