Bank insurance first-quarter brokerage fee income was up 3.9 percent compared with the first quarter of 2006, according to a report by a consulting firm and a life insurer.
The Bank Fee Income Report (FIR)–compiled by consultants Michael White Associates, LLC in Radnor, Pa., and sponsored by Symetra Financial of Bellevue, Wash.–said this year's first-quarter income was $993.3 million, up 3.9 percent from $956 million in the 2006 period.
According to the report, one-fourth of the way through the year, 2,895 banks reported earning some insurance brokerage fee income, constituting 37.1 percent of all 7,813 commercial and savings banks.
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