NU Online News Service, Feb. 10, 2:32 p.m. EST
Bank owned insurance brokerage firms saw brokerage fee income over the first three quarters of 2010 rise 7 percent over 2009 to a record $9.7 billion, with a property and casualty firm topping the list, according to the latest market report.
In the latest Michael White-Prudential Bank Fee Income Report, fee income rose a total of $630 million, a record for the industry, the report said. However, third quarter bank holding company fee income was down 6 percent, or $190 million, to $2.86 billion. This is the lowest amount since the 2008 fourth quarter, the report said.
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