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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
April 21, 2006 at 09:59 AM
Bank holding companies increased total insurance revenue 19% to $44.1 billion in 2005 from $37.1 billion a year earlier.
Insurance brokerage fee income was up 14% in 2005, giving it a compound annual growth rate of 22% since 2001, said Michael D. White, president of Michael White Associates, Radnor, Pa. His firm conducted the study, based on Federal Reserve data, with the American Bankers Insurance Association, Washington.
Leading banks in insurance were Citigroup Inc, New York, $3.1 billion; Wells Fargo & Company, San Francisco, $1.2 billion; HSBC North America Holdings, New York, $987 million; Countrywide Financial Corporation, Calabasas, Calif., $970 million; and J.P. Morgan Chase & Co., New York, $874 million.
During 2005, 1,428 bank holding companies, or 63% of all top-level BHCs reporting, earned some type of insurance-related revenue, compared to 1,422 in 2004, the study reports.
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