ABD Insurance & Financial
Encyclopedia
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 has grown 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.
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 the next year.
ABD is headquartered in Redwood City, California
and its corporate website is http://www.cybersure.com
CyberSure also serves customers with risk management
and insurance related content.
Bruce Basso
Bruce Basso joined the Mario L. Basso Agency founded by his father in 1970. Under his leadership, the firm grew to become one of the more prominent agencies in the Bay Area. In 1990, the Mario L. Basso Agency merged with Albuger de Grosz to form, ABD Insurance & Financial, the 14th largest...
, Fred de Grosz and Doug Alburger, ABD Insurance & Financial, Inc. was a large Northern California
Northern California
Northern California is the northern portion of the U.S. state of California. The San Francisco Bay Area , and Sacramento as well as its metropolitan area are the main population centers...
-based insurance
Insurance broker
An insurance broker finds sources for contracts of insurance on behalf of their customers. The three largest insurance brokers in the world, by revenue, are Aon, Marsh & McLennan, and Willis Group Holdings.-Purpose of insurance brokers:...
and financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
broker.
Formed in 1990 through the merger of the Mario L. Basso Agency and Alburger de Grosz, Inc., ABD Insurance & Financial has grown to become the 14th largest brokerage in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
In 2002, Greater Bay Bancorp acquired ABD Insurance & Financial for $200 million.
In 2007, Wells Fargo Bank
Wells Fargo
Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
acquired ABD Insurance through their $1.5 billion acquisition of Greater Bay Bancorp.
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
San Francisco Bay Area
The San Francisco Bay Area, commonly known as the Bay Area, is a populated region that surrounds the San Francisco and San Pablo estuaries in Northern California. The region encompasses metropolitan areas of San Francisco, Oakland, and San Jose, along with smaller urban and rural areas...
, 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 the next year.
ABD is headquartered in Redwood City, California
Redwood City, California
Redwood City is a California charter city located on the San Francisco Peninsula in Northern California, approximately 27 miles south of San Francisco, and 24 miles north of San Jose. Redwood City's history spans from its earliest inhabitation by the Ohlone people, to its tradition as a port for...
and its corporate website is http://www.cybersure.com
CyberSure also serves customers with risk management
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
and insurance related content.