Bank holding company earnings from annuity sales were about 12% higher in the first quarter than they were in the first quarter of 2008.
Michael White Associates, Radnor, Pa., and the American Banking Insurance Association, Washington, have published that finding in an annuity fee income report.
Bank holding company annuity fee income increased to about $735 million in the first quarter, up from $653 million in the comparable quarter in 2008.