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BHC Insurance Revenue Rises

By staff Writer

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Bank holding company insurance revenue increased 7.2% in 2008, to almost $11 billion.

Although BHC insurance brokerage fee income fell in 2008, the BHCs’ insurance underwriting revenue increased 32%, to about $4.7 billion.

Michael White Associates, Radnor, Pa., compiled the data for the American Bankers Insurance Association, Washington. The figures exclude data for MetLife Inc., New York, a BHC that does not engage in a high volume of banking activities.