Edition:
India

Wells Fargo To Exit Personal Insurance Business


Wednesday, 29 Nov 2017 

Nov 28 (Reuters) - Wells Fargo & Co ::WELLS FARGO TO EXIT PERSONAL INSURANCE BUSINESS.- IT WILL EXIT PERSONAL INSURANCE BUSINESS AND IMMEDIATELY BEGIN WINDING DOWN MARKETING AND PRODUCT PROMOTION ACTIVITY.‍DECISION COMES AFTER A STRATEGIC ASSESSMENT OF BUSINESS, WHICH BEGAN IN EARLY OCTOBER 2017​.- ‍DECISION TO EXIT PERSONAL INSURANCE BUSINESS DOES NOT IMPACT WELLS FARGO'S WEALTH & INVESTMENT MANAGEMENT'S LIFE INSURANCE PRACTICE​.WELLS FARGO - PERSONAL INSURANCE BUSINESS IS LAST INSURANCE BROKERAGE AGENCY IN CO'S PORTFOLIO, AND ITS FINANCIAL CONTRIBUTION WAS NOT MATERIAL.