Bank holding companies earned a record $2.26 billion from the sale of annuities in the first three quarters of 2011, up from $1.84 billion, or 22.6%, from the year-ago period, according to the recent annual report from consulting firm Michael White Associates and the American Bankers Insurance Association.
In the third quarter, bank holding companies generated $731.5 million in annuity commissions, up 17.7% from $621.3 million earned in the third quarter of 2010.
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