San Francisco-based bank Wells Fargo reported insurance revenues dropped 9 percent in the fourth quarter as the company reported a net loss of $2.55 billion.
Wells Fargo, which owns the insurance brokerage firm Wells Fargo Insurance Services Inc., reported yesterday that insurance revenue dropped $33 million in the fourth quarter of last year to $337 million compared to the same period in 2007.
For the year, revenues rose 20 percent, or $300 million, to $1.83 billion.
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