RJ and Makay

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Insurance brokerage income at bank holding companies was $3.98 billion in the first quarter of 2011, up 19.8% from $3.32 billion in the first quarter of 2010, according to the Michael White-Prudential Bank Insurance Fee Income Report.  Q1 2011 and Q4 2010 saw the highest totals on record for insurance brokerage fee income at bank holding companies.  Quarter to quarter income grew at a rate of 10.6%.

The March earthquake in Japan has caused more than a quarter of large U.S. based businesses to experience supply chain disruptions or contingent business interruptions.

Most of these companies have Contingent Business Interruption insurance, known as CBI, which covers such interruptions of normal operations and income.  Some of the covered companies still face significant risk, according to a new Greenwich Market pulse study.

U.S. banks BB&T Corp. (BBT) and PNC Financial Services Group (PNC) are among other lenders showing interest in Royal Bank of Canada’s struggling U.S. consumer banking business, according to a Bloomberg report.

RBC purchased North Carolina based Centura Banks, since renamed RBC Bank, in 2001 for $2.2 billion (C$3.5 billion at the time).  RBC Bank has lost money for 10 straight quarters and been on the sales block since earlier this year.