Wells Fargo & Company reported its insurance services division's income grew 5 percent in the third quarter over last year.
The San Francisco-based banking company said insurance services grew $16 million in the quarter compared with the same period last year, to $329 million. For the first three months of 2007, insurance services grew 11 percent, or $119 billion, over last year to $1.2 billion, representing 8 percent of the company's non-interest income.
Chief Financial Officer Howard Atkins said in a recorded message that the increase in insurance fee income was driven by new customer growth and cross selling.
Continue Reading for Free
Register and gain access to:
- 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
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
