Income earned by bank holding companies (BHCs) from the sale of annuities fell steadily throughout the first three quarters of 2010, according to the Michael White/ABIA Bank Annuity Fee Income Report.
Performance figures for the first three quarters of 2010 stood at $1.84 billion, down 7.6% from $2 billion in annuity income earned by BHCs during the same period a year earlier. Third-quarter annuity commissions of $621.3 million were 3.1% lower than the previous quarter and 7.3% less than the third quarter 2009.
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