The nation's bank holding companies reported their insurance brokerage fee income grew more than 10 percent in 2006, while total insurance revenue decreased 1.3 percent--a drop attributed to a reduction in the number of firms reporting.
The Michael White Associates consulting firm in Radnor, Pa., and the Washington-based American Bankers Insurance Association released the findings today based on data reported to the Federal Reserve Board by top-tier bank holding companies.
The organizations said total insurance revenue went from $44.1 billion in 2005 to $43.5 billion in 2006.
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