Wells Fargo & Company said second-quarter insurance revenues rose 19 percent, crediting more business from current customers for the increase across all its business lines.
For the quarter, the San Francisco bank reported insurance income increased $68 million over the same period last year to $432 million. For the six months, revenues increased 14 percent over last year, or $103 million, to $831 million.
In a Securities and Exchange Commission filing, John Stumpf, president and chief executive officer, said, "We continue to earn more business from current customers and invest in future growth through internal investments and acquisitions."
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
