GRAND RAPIDS — Wells Fargo Insurance Services Inc. just announced it’s purchasing Universal Insurance Services Inc., a closely held and independent regional insurance agency founded in Grand Rapids in 1982.

Ellen Sievert, national director of corporate communications for Wells Fargo Insurance Services Inc., said Universal Insurance Services staff will stay on and continue serving clients from Universal’s present location at 648 Monroe Ave. NW. Current President and Managing Partner William Rothwell will serve as Wells Fargo Insurance Services managing director for the state of Michigan.

Universal offers business, personal, and employee benefit insurance services, and the company is also a third party administrator that provides marketing, sales and policyholder services for associations throughout the United States and Canada. It has a staff of 115.

Wells Fargo Insurance Services is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with more than 150 offices in 38 states. The company employs 4,500 insurance professionals that that place more than $8.5 billion in risk premiums with expertise in property, casualty, benefits, international, personal lines and life products.

“This partnership will enable us to align resources with a first-class organization and to offer an even more robust suite of products and services to our clients,” Rothwell stated. “We will not only expand our insurance and risk management resources to assist clients in protecting their assets, but we will also be able to help them to grow their businesses through our Wells Fargo partnership.”

Dan Goldapp, regional managing director of Wells Fargo Insurance Midwest region referred to Universal as an “outstanding” agency with a highly respected team of insurance professionals.

“They will strengthen our presence in Michigan and further support Wells Fargo Insurance Services and the Wells Fargo commitment to help our customers succeed financially,” Goldapp commented.