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ABIA: Bank Parent Insurance Sales Rise

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Bank holding company insurance revenue increased to $24 billion during the first half, from $22 billion during the first half of 2007.

Researchers at Michael White Associates, Radnor, Pa., came up with those figures for the American Bankers Insurance Association, Washington, by analyzing data reports from 900 large bank holding companies.

Researchers found that 607 of the BHCs included earned insurance-related revenue during the first half, down from 627 in the first half of 2007.

The number of BHCs earning fee income from underwriting or reinsurance activities fell to 67, from 77.

The BHCs’ insurance brokerage fee income increased 3%, to $6.3 billion.