First quarter insurance brokerage fees for bank-owned brokerage firms was down close to 11 percent over the same period last year according to a report from a bank consulting firm.
The Michael White-Prudential Bank Fee Income Report, released today, says despite reaching an aggregate first quarter result of $1.81 billion in insurance brokerage fees this year, the second highest on record, fees dropped 10.7 percent from last year's record $2.03 billion.
Of the top twelve bank holding companies, two primarily property and casualty insurance brokerage firms, Wells Fargo & Co. and BB&T Corp., reported mixed results.
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