Bank holding companies increased their earnings from the sale of annuities to $1.33 billion in first half 2009, up 1.7% from $1.31 billion in the same period last year, according to a report.
However, BHCs' annuity fee and commission income in the second quarter fell compared to second quarter 2008, to $593.1 million, down 9.1% from $652.6 million in the same period last year, according to the Michael White-ABIA Bank Annuity Fee Income Report. The report, compiled by Michael White Associates, Radnor, Pa., is sponsored by the American Bankers Insurance Association, Washington.