Insurance Brokerage Income Up

First-quarter bank holding company (BHC) insurance brokerage income of $3.03 billion was up 15.0% from $2.63 billion in fourth quarter 2008, which marked the lowest point of quarterly insurance income since 2005, according to the Michael White-Prudential Bank Fee Income ReportTM. 

 

Insurance income is indicating a rebounding industry, and shows opportunity to for growth.  With income belwo 2005 levels there is still opportunity for growth within the industry.  As consumers seek out new products institutions are continuing to meet their needs.  Insitutions are beginning to seak out new products and new delivery systems.  Insurance products provide a value added solution for customers.  Mortgage customers are eligible for complementary coverage with certain programs to protect their assets.  Providing added value gives the consumer a buying incentive and provides a competitive advantage in the current marketplace.  Insurance also provides peace of mind during uncertainty and give assurance that their assets are protected.