BALTIMORE, Nov. 28 -- Wells Fargo issued the following news release:
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'sCorporate 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'sCorporate 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.
TNS-LE 121129-JF78-4120490 StaffFurigay