Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance

Bank Insurance Fee Income Hits $3.6 Billion in 2003

Your article was successfully shared with the contacts you provided.

NU Online News Service, April 7, 2004, 9:00 a.m. EST – Banks earned $3.6 billion in commissions and fees from insurance in 2003, up 3% from $3.49 billion in 2002, according to a new study by Michael White Associates, Radnor, Pa.

MWA’s 2003 Year-End Bank Insurance & Investment Fee Income Report, based on data from all 8,254 commercial and federally insured savings banks, notes 2003 was the second year in a row more than half of U.S. banks earned insurance revenue.

The highest participation was by banks with over $10 billion in assets, 73% of which engaged in insurance, producing $2.6 billion in insurance fee income.

For the first time, banks under $10 billion in assets earned more than $1 billion in insurance fee income, up more than 9% over 2002, MWA says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.