Bank holding company insurance-brokerage-fee income rose more than 9 percent last year compared to 2010, reaching record levels of close to $8 billion, according to a recent report measuring bank-insurance activity.
Insurance-brokerage fees for bank-holding companies were up more than 14 percent over the first three quarters of 2011, but the two major bank-owned P&C brokers saw their fees drop over the period.
Insurance brokerage fee income at banks hit $3.05 billion for the third quarter of 2009, the highest level in the last 5 quarters, according to the data compiled by Michael White Associates LLC.
Bank insurance brokerage fee income rose close to 12 percent in the third quarter of 2009 compared with the same period the year before, according to a consulting company.
Behind Citibank on the list was BB&T (Branch Banking and Trust Company) with $799.4 million in insurance revenue. FIA Card Services was third, but saw its revenues drop 26 percent, or $66 million, to