ABD Insurance & Financial

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Founded by Bruce Basso, Fred de Grosz and Doug Alburger, ABD Insurance & Financial, Inc. was a large Northern California-based insurance and financial services broker.

Formed in 1990 through the merger of the Mario L. Basso Agency and Alburger de Grosz, Inc., ABD Insurance & Financial then grew to become the 14th largest brokerage in the United States.

In 2002, Greater Bay Bancorp acquired ABD Insurance & Financial for $200 million.

In 2007, Wells Fargo Bank acquired ABD Insurance through their $1.5 billion acquisition of Greater Bay Bancorp (GBBK), and changed the name to Wells Fargo Insurance Services in 2008.[1]

ABD Inc. accounted for $165 million in 2005 U.S. revenue, ranking as the nation's 14th largest insurance brokerage, according to Business Insurance magazine's July 2006 rankings. It ranked 2nd on the San Francisco Business Times' 2006 List of the Largest Insurance Brokers in the Bay Area, with just over $1 billion in Bay Area-generated 2005 premium volume, and $2.26 billion in overall premium volume that year. At the time, it had 575 brokers and about 800 employees companywide. It became part of Wells Fargo Insurance Services with the Wells Fargo acquisition of GBBK in 2007.

ABD was headquartered in Redwood City, California and its corporate website was http://www.cybersure.com

CyberSure also serves customers with risk management and insurance related content.