Wells Fargo & Company (NYSE: WFC) today announced that, for the second year in a row, its subsidiary Wells Fargo Bank, N.A. has been named “Global Best Bank for Insurance Trusts” by Intelligent Insurer magazine. Additionally, Wells Fargo has also been named “Best Collateral Service Provider” by CaptiveReview.com.
The Intelligent Insurer honor was awarded based on the votes of thousands of insurance, reinsurance and insurance-linked securities (ILS) executives. The CaptiveReview.com award was given at this year’s Captive Live 2012 event in Chicago and was chosen by the sponsors of Captive Live based on votes from their 15,000+ readers.
“Wells Fargo is committed to delivering excellent customer service and value-added expertise for our insurance, reinsurance and ILS customers, both nationally and globally,” said Robert Quinn, senior vice president in Collateral Trust at Wells Fargo’s Corporate Trust Services division. “We are honored that the readers of these publications have chosen to recognize our industry expertise and our commitment to helping our customers succeed financially.”
Wells Fargo Bank’s Corporate Trust Services offers insurance trust products that provide simple and comprehensive alternatives to Letters of Credit (LOCs) to meet insurance and surety-related collateral requirements. These trusts offer cost savings and ease of use over LOCs and are widely accepted by companies requiring collateral for these programs.
For more information about insurance trust products, customers may contact Robert Quinn at Robert.G.Quinn@wellsfargo.com or 203-293-4394.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.