Insurance brokerage income attributed to bank holding companies (BHC) tallied a record $3.98 billion in Q1 of 2011, according to an analysis performed by Michael White Associates (MWA) and sponsored by Prudential Individual Life Insurance.
The results are 19.8 percent higher than the $3.32 billion earned in first quarter 2010 and 10.6 percent greater than fourth quarter 2010. Nonetheless, Michael White, President of MWA, says the growth was not evenly distributed. For example, of the 156 BHCs with at least $1 million in annualized insurance brokerage income included in the survey, 74 showed positive growth in their insurance brokerage income, while 80 experienced declines, and two were flat.
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