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MWA: BHC Insurance Income Rises

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Bank holding company (BHC) insurance brokerage fee income climbed to more than $3.5 billion in the second quarter, up 18% from the total for the second quarter of 2009.

Michael White Associates, Radnor, Pa., has published those figures in its latest BHC insurance brokerage fee analysis.

The BHCs that generated the most insurance fee income during the quarter were Wells Fargo & Company, San Francisco, with $1 billion in income, up 1%; Citigroup Inc., New York, $771 million, up 53%; and BB&T Corp., Winston-Salem, N.C., $484 million, up 1%.

MWA found 62% of large BHCs had insurance brokerage units in the second quarter.

- Trevor Thomas


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