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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.

CF Effron Co.

Banks’ insurance sales hits new record

Posted by RJ and Makay on Aug 10, 2011

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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%.