Bank holding companies increased annuity income almost 40% in the first half, to $1.3 billion, up from $936 million in the first half of 2007.
Combined BHC fee income from annuity and mutual fund sales fell 2.9% in the first half, to about $12 billion, according to Michael White Associates, Radnor, Pa.
About 91% of the BHCs with more than $10 billion in assets reported mutual fund and annuity revenue.