Bank Insurance Income Up in First Half

Total insurance revenues of bank holding companies in the first half rose 1.6% to $21.2 billion from $20.9 billion in the same period in 2004.[@@]

But BHCs’ income from insurance brokerage fees fell 2% in the period, from $5.09 billion in the first half of 2004 to $4.98 billion in the same period this year.

The data were released in a new report by Michael White Associates, Radnor, Pa., and the American Bankers Insurance Association, Washington. The findings are based on information reported to the Federal Reserve Board by 2,287 BHCs.