As banks and insurers compete in the lucrative retirement market, new numbers show a marked uptick in the sale of annuities at bank holding companies (BHCs) in the first half of 2011.
According to the Michael White-ABIA Bank Annuity Fee Income Report, annuity income earned by BHCs hit a record $1.53 billion in the first half of 2011, up 25 percent from $1.22 billion earned in first half last year.
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