Gunn-Mowery buys out Wells Fargo Insurance office
A Cumberland County insurance company announced it has acquired a nearby competitor.
Gunn-Mowery LLC of Lemoyne said it has purchased the Wells Fargo Insurance office in East Pennsboro Township. It did not disclosed the terms of the sale.
Wells Fargo officials confirmed the sale but would not comment further.
The sale closes today, with an effective date of Dec. 1. Ten employees of the Wells Fargo office will start work with Gunn-Mowery on Monday, but that does not include all of the employees of the office, according to Melissa Anderson, marketing coordinator at Gunn-Mowery.
Anderson said she could not disclose how many Wells Fargo Insurance employees would not be taken into the fold, or what their status is at Wells Fargo.
Anderson said Wells Fargo will keep the location at 214 Senate Ave. in the township and use it for its banking division.
The new operation will have $9 million in annual revenue and manage $80 million worth of insurance premiums, according to Gunn-Mowery’s press release.
The company, started in 1985, has four regional offices in Centre, Cumberland, Lancaster and York counties. It offers commercial and personal insurance and group and individual benefits through more than 100 different insurance companies, according to its press release.