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Fiserv Buys Insurance Wholesalers

by MSN.com - Jun 16,2006

BROOKFIELD, Wis. (AP) - Fiserv Inc., a maker of software for the financial and health benefits industries, said Friday it bought Insurance Wholesalers Inc. for an undisclosed amount.

Citrus Heights, Calif.-based Insurance Wholesalers gathers leads for insurers to sell term and universal life insurance to cover mortgages.

Insurance Wholesalers' 42 employees will become part of Fiserv's distribution solutions division. Its founder, Brian Pope, will continue in his role as president.

"Insurance Wholesalers' proven capability to gather leads that generate increased sales for life insurance carriers through a network of 300 independent agents and 1,800 life insurance brokerage relationships, significantly increases Fiserv's presence in the distribution area," said Terry Wade, president of the Fiserv's insurance group.

Fiserv shares rose 31 cents to $43.98 in morning trading on the Nasdaq.

___________________________________________________________________

© 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

© 2006 Microsoft

 

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