A decade ago, the bank-insurance debate was in full swing, with the looming question: "How will banks impact the insurance distribution system?" Today, much of that debate has been settled.
More than 20 of the top 100 U.S. independent agencies are now bank-owned, and they produce greater than 10 percent of all independent brokerage revenue. At the same time, many banks of various sizes are now actively and successfully engaged in selling insurance.
The reasonable conclusion is that banks are a significant and permanent piece of the insurance distribution system.
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