Bank holding companies saw total insurance income increase 38.5% last year to $15.1 billion from a year earlier, 2008, according to a Michael White Associates/American Bankers Insurance Association report released Wednesday based on Federal Reserve Board data.
Citigroup [C], Bank of America [BAC] and Wells Fargo [WFC] led the pack with $3 billion, $2.8 billion and $2.1 billion in sales, respectively. These same companies earned the most insurance revenue in 2008, too, although Wells Fargo was in second place that year.
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