Bank holding companies earned a record $7.7 billion in insurance brokerage fee income in 2011, up 9.1% from the previous year, according to Michael White Associates, a bank insurance consulting firm based in Radnor, Pa.
While insurance brokerage income was up for the year, it slowed in the fourth quarter to $1.81 billion. That was down 9.7% from the previous quarter and 5.3% from the year-ago period. Nevertheless, fourth-quarter 2011 revenue was the second highest of any fourth quarter, the report said.
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