Bank holding companies earned $3.2 billion in insurance brokerage fee income in the first quarter, up 3.2% from the total they recorded for the first quarter of 2007.
Michael White Associates L.L.C., Radnor, Pa., is reporting those figures in a quarterly bank holding company fee income report.
The figures include commissions and fees earned from sales and referrals involving life, health, credit, property-casualty and title insurance, but they do not include annuity sales or servicing revenue.
About 61% of bank holding companies engaged in insurance brokerage activities during the quarter, Michael White reports.
Insurance brokerage fee income at bank holding companies with more than $10 billion in assets rose 5.8%, to $3 billion.