The transaction includes the Insurance Brokerage and Consulting, Employee Benefits and Property & Casualty national practices of WFIS
, along with its Safehold Special Risk, Small Business Insurance, Student Insurance, Individual Health and Private Risk Management Insurance business lines.
Precise detail on how Pathways to Work operates in practice (for example, the average number of WFIs individuals have, the proportion participating in Choices, receiving RTWC etc.) will be available shortly (Bailey et al., forthcoming).
Since only about a fifth of those having an initial WFI go on to participate in Choices, for the majority of claimants it is the WFIs that constitute the main element of the Pathways to Work process.
For some time, all individuals have been required to attend a work-focused interview (WFI) shortly after commencing a claim for incapacity benefits.
The sale of WFIS
, or Wells Fargo Insurance Services USA Inc, is expected to close later this year.
28 June 2017 - New York, US-based insurance brokerage and consulting firm USI Insurance Services has agreed to acquire business lines, including insurance brokerage and consulting, employee benefits and property and casualty, of Chicago, US-based Wells Fargo Insurance Services USA (WFIS
), a subsidiary of Wells Fargo and Co (NYSE: WFC) and ACO Brokerage Holdings Corporation, the company said.
Wells Fargo & Company (NYSE:WFC) has said that it has signed an agreement to sell Wells Fargo Insurance Services USA (WFIS) to USI Insurance Services.
WFIS provides small business, middle market, large corporate and high net worth clients with property and casualty, professional risk, employee benefits, private risk solutions and targeted insurance programs to specialised industries.