Bank holding company insurance brokerage fee income reached over $3 billion in the third quarter of 2009, up 11.7% from about $2.7 billion in the third quarter of 2008, Michael White Associates reports.
According to MWA, Radnor, Pa., the BHCs that generated the most insurance fee income during the quarter were Wells Fargo & Company, San Francisco, $1.4 billion, up around 5% from $1.3 billion in the third quarter of 2008; Citigroup Inc., New York, $771 million, down 19% from $955 million; and BB&T Corp., Winston-Salem, N.C., $699.9 million, up 12% from $626 million.
