Report: annuity fee income in 2012 surpasses 2011 total
October 31, 2012 by Warren S. Hersch
October 23, 2012 •
Income earned from the sale of annuities at bank holding companies in the first half of 2012 hit $1.58 billion, up 3.4% over $1.53 billion earned in first half 2011, new research reveals.
The “Michael White-ABIA Bank Annuity Fee Income Report” indicates, however, that annuity income would have been down were it not for the contributions of new reporters in the form of thrift holding companies (THCs) and new bank holding company (BHC) Raymond James Financial, Inc. Second-quarter 2012 annuity commissions rose to $799.9 million, up 2.4% from $781.4 million earned in second quarter 2011 and up 2.3% from $781.7 million in first quarter 2012. Click here to read more…
Originally Posted at LifeHealthPro on October 23, 2012 by Warren S. Hersch.
Categories: Industry Articles
