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Crop Losses Hit Insurance Earnings for Wells Fargo

Fourth-quarter earnings in Wells Fargos insurance segment dropped 15 percent over the same period in 2011 due to crop-insurance losses, the company says.

By Mark E. Ruquet | Updated on January 18, 2013

Fourth-quarter earnings in Wells Fargo’s insurance segment dropped 15 percent over the same period in 2011 due to crop-insurance losses, the company says.

The San Francisco-based bank is home to one of the nation’s largest insurance-brokerage firms, and did not report insurance results separately. However, in a line-item breakout in its fourth quarter 2012 results, the bank reports insurance revenues fell to $395 million from $466 million from the same period last year.

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