NU Online News Service, April 30, 2:15 p.m. EDT
The top 25 bank-owned insurance agencies reported earnings margins last year 11 percent higher than the average of all bank agencies, according to a new report.
The average bank agency in 2009 had an earnings margin before interest, taxes, depreciation and amortization of 19.6 percent, compared to 30.6 percent for the top 25 bank agencies, according to a report on third-quarter bank insurance agency results by the American Bankers Insurance Association, Washington, and Marsh, Berry & Company Inc., Willoughby, Ohio.
"To improve profitability, it is critical that bank agencies understand the relationship between profitability and productivity compared to peer agencies," Marsh Berry observed in a report on the findings.
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