Banks increased their insurance brokerage fee revenues by 4 percent last year, with Citibank leading the pack with $973 million in brokerage fee income, according to a study.
The report, released by Michael White Associates, LLC, and sponsored by Symetra Financial, is based on data released by all 7,837 commercial and FDIC regulated savings banks.
The data shows that 47 percent of banks in the United States engaged in activities that produced insurance brokerage revenue.
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