Insurance continued to be a bright spot for banks in the first quarter, as guarantees lured customers and banks ramped up their sales efforts.
Insurance brokerage income at bank holding companies was $3.98 billion, up 19.8% from $3.32 billion in first quarter of 2010, according to the Michael White-Prudential Bank Insurance Fee Income Report. That quarter and the one prior to it have produced the highest totals ever recorded for holding companies’ insurance brokerage fee income, according to the report.
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