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PayneWest’s Acquisition of Wells Fargo Insurance Operations in Yakima, Wenatchee, Washington Complete

Wenatchee, Washington

PayneWest Insurance, Inc., the largest independent, employee-owned, agency in the Northwest, announced today the company has successfully completed the acquisition of Wells Fargo Insurance’s operations in Yakima and Wenatchee, Washington. The acquisition helps solidify the company’s
expertise in two key Yakima-area industries – agriculture and transportation.

PayneWest will maintain both locations in Yakima at 1402 West Yakima Avenue and 1430 North 16th Avenue until they combine into the North 16th location later. PayneWest’s Wenatchee location is now located at 706 North Chelan Avenue. In Washington, PayneWest also has locations in Richland and Spokane.

“Wells Fargo Insurance is focused on growing in markets where we have the greatest opportunity to partner with the bank and serve more of our middle market and large corporate customers,” said Tim Prichard, regional managing director for Wells Fargo Insurance’s West region. “With PayneWest, we are confident that our team members will be supported and our clients in Yakima and Wenatchee will continue to receive terrific service. Washington remains a key market for Wells Fargo Insurance and, through our offices in Spokane and Seattle, we will continue to grow our business, support the local communities, and serve customers in this very important region.”

“Both our companies have long been committed to knowing the insurance business, being true assets to clients and making a real difference for the companies and people we serve,” said Kyle Lingscheit, President & CEO of PayneWest Insurance. “Our intrinsic focus on our clients, colleagues and the Yakima and Wenatchee communities, are perfectly aligned with the high-caliber service Wells Fargo Insurance has provided in these markets for many years.”

About PayneWest Insurance
Operating independently since 1921, PayneWest Insurance provides business and personal insurance, employee benefits and surety. Today, PayneWest is the largest independent, employee-owned, agency in the Northwest and was ranked 38th in the top 100 U.S. Brokers by Business Insurance in 2015. Driven by their commitment to serve their Clients, Colleagues and Communities, PayneWest has 31 offices throughout Washington, Idaho, Montana and Oregon (with no official home office) and employs more than 670 insurance professionals, including advisor teams that specialize in highly complex market niches such as agriculture, construction, hospitality, banking, medical malpractice, and resource development. They recently were named a Best Places to Work in the Insurance Industry in 2015 by Business Insurance.

About Wells Fargo Insurance
Recently named Best Insurance Broker in the U.S. by Global Finance Magazine, Wells Fargo Insurance, part of Wells Fargo & Company, provides solutions for a wide range of customers, including retail consumers, high net worth individuals, small businesses, as well as middle market and large corporate customers. Wells Fargo Insurance writes or places $11 billion of risk premiums annually in property, casualty, benefits, and international personal lines.

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