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Key facts about US Banks in Insurance

ABIA CONDUCTS NATIONAL STUDY OF BANKS IN INSURANCE
96 Percent Say Insurance Business Adds Value for Bank Shareholders

The American Bankers Insurance Association in cooperation with Reagan Consulting released their 2008 Study of Banks in Insurance today. The study found that an overwhelming 96 percent of banks currently distributing insurance products believe that their insurance businesses add value for bank shareholders, with nearly 40 percent saying it adds “significant” value.

The study is based on a collection of annual research about the current and planned insurance activities of U.S. banks. It is designed as a management tool for executives who want to understand how the bank-insurance industry is developing, what strategies banks are pursuing, and what practices or approaches are producing successful bank-insurance programs.

The study also provides a general review of the overall insurance distribution system and the current market positions of the banking industry. This includes market share analysis, competitive advantages/disadvantages for banks, emerging trends that will impact the insurance distribution landscape and a bank-insurance update.

++++++++++++++++++++++++++++++++++++++++++++++++
Michael White-ABIA Report

BHC Insurance Revenue Up in First Half of 2008

The nation’s bank holding companies increased their total insurance revenue 9.5 percent to $23.7 billion in the first half of 2008 from $21.7 billion during the same period in 2007. CitiGroup (NY), Wells Fargo & Company (CA), and BB&T Corporation (NC) led all bank holding companies with significant banking activities in total insurance fee income in the first six months of 2008, according to findings released today by Michael White Associates and the American Bankers Insurance Association.

The findings are based on data reported to the Federal Reserve Board by 946 top-tier large bank holding companies (BHCs). The analysis measures the growth of the bank insurance business and provides some benchmarks that gauge bank insurance performance.
“The top 50 bank holding companies in insurance revenue attained a mean ratio of insurance to noninterest income of 14.3 percent,” said Valerie Barton, executive director of ABIA. “That level of Insurance Concentration demonstrates considerable contribution to BHCs’ noninterest income. Insurance consistently proves it is a valuable revenue-generating activity during good times and bad times. Those institutions that engage in it are glad to have the additional income for diversification of their revenue sources and for their bottom lines.”

US Bank Insurance News

TOP 10 BANK HOLDING COMPANIES IN TOTAL INSURANCE INCOME (YTD JUNE 30, 2008) NATIONALLY

RANK

Total Insurance Income ($000s)

Bank Holding Company

State

1st Half 2008

1st Half 2007

1

1

$1,969,000

CITIGROUP INC.

NY

2

2

$1,054,000

WELLS FARGO & COMPANY

CA

3

4

$448,904

BB&T CORPORATION

NC

4

5

$324,023

BANK OF AMERICA CORPORATION

NC

5

3

$275,147

HSBC NORTH AMERICA HOLDINGS INC

IL

6

6

$203,000

JPMORGAN CHASE & CO.

NY

7

7

$168,000

WACHOVIA CORPORATION

NC

8

9

$66,525

NATIONAL CITY CORPORATION

OH

9

10

$59,019

REGIONS FINANCIAL CORPORATION

AL

10

12

$46,331

BANCORPSOUTH, INC

MS

Ranking excludes MetLife, which did not have significant banking operations. Source: Michael White Associates and American Bankers Insurance Association

Banks and Insurance Companies providing Bancassurance Products

ACE, American Insurance Company
Adrian N Baker & Co. (First Banks, Inc.)AEGON Financial Services
Affinion Group
AIG American General
AIG Annuity Insurance Company
AIG Travel Guard
ALIRT Insurance Research
Allegiance Direct Bank
Alliance Bank
Allstate Financial Institutions Division
Amacore Group
Amcore Investment Group, N.A.
American Gateway Bank
American Home Shield
American Modern Insurance Group
Answer Financial, Inc.
Aon Integramark
Associated Financial Group, LLC
Assurant Solutions
Aviva Life Insurance Company
BB&T Insurance Services, Inc.
BOM Financial Services
BW Insurance Agency
Baker & Daniels
Balboa Life & Casualty
BancorpSouth
Bangor Savings Bank
Bank of America Insurance Services Group
Bank of Hawaii Insurance Services
Bank of Smithtown Insurance Agents & Brokers, Inc.
Barnett, Sivon & Natter, P.C.
Canadian Bankers Association
CBAO Insurance Agency, Inc.
CBTx Insurance Services (Commercial Bank of Texas)
CF Effron Company, LLC
CIT Insurance Services
CNB Insurance Agency
CNC Insurance Agency, LLC
Cardif Services, Inc.
Central Bank and Trust
Central States Indemnity
Central States Life & Health Co. of Omaha
Chase Insurance Agency
Citi Assurance Services
Citizens Bank and Trust
Citizens-Union Savings Bank
Codorus Valley Financial Advisors, Inc. ( a Subsidiary of PeoplesBank)
Columbia Bank
Commerce Insurance Services, Inc.
Community Bank
Community Financial Insurance Center, LLC
Compass Bancshares Insurance, Inc.
ComPsych
Computer Science Corporation (CSC)
Construction-to-Perm Insurance
Consumer Credit Insurance Association
Cornerstone Insurance Group
Cottonport Bank (Mansura Bancshares)
Country Club Financial Services, Inc.
Country Trust Bank
Coverdell & Company
CreditRe Corporation
Cross County Home Services
De Lage Landen Financial Services, Inc (Rabobank)
Direct Marketing Group
Discover Financial Services, Inc.
DRIASI
Eagle Financial Group
EAI Information Systems
Edwards, Angell, Palmer & Dodge LLP
Efinancial
F&M Bank & Trust Company
Farmers State Bank of Hoffman
First American Membership Services
First Bank Virgin Islands
First Citizens Insurance Services (First Citizens Bank & Trust Co.)
First Commonwealth Insurance Agency
First Financial Insurance
First Federal Insurance Services, L.L.C.
First Financial Insurance
First Horizon Insurance Services
First Insurance Service, LC
First National Bank of Moody
First National Bank of Shelby
First Niagara Bank
First State Insurance Agency, Inc.
First United Insurance Group
FirstBank Insurance
FirstCity Partnership
Florida Bankers Association
Frost Insurance Agency, Inc.

GPW and Associates
Gate City Bank
Gateway Insurance Services, Inc.
GE Money
Genworth Financial
Global Contact Services
Great American Financial Resources, Inc
Great-West Life & Annuity Insurance Company
Guaranty Insurance Services, Inc.
Golf Coast Bank
HSBC Bank USA
hales & Company
Hancock Insurance Agency
Hardin County Bank Insurance Agency Inc.
Hartford Life
Hawaii National Bank
High Point Bank and Trust
Homeshield Insurance Co. (MidFirst Bank)
HomeStar Bank
Huntington Insurance Services
IAC
IBC Insurance Agency, Ltd.
Indiana Bankers Association
Insurance Licensing Services of America
International Marketing & Administrative Corporation (IMAC)
Intersections, Inc.
Investments Center at Crossroads Bank
Investors Title Insurance Company
IPeople, LLC
ISU Group
Jackson National Life Insurance Company
Johnson Insurance Services
Jordan & Jordan Associates
Jorden Burt, LLP
KBA Insurance, Inc.
Keffer Financial Planning
Kentucky Bankers Association
KeyBank
LLGlobal, Inc,
Lincoln Financial Distributors
Liberty Life Assurance Company of Boston
Life of the South
Louisiana Bankers Association
MarshBerry
Mass Marketing Insurance Group Massachusetts Bankers Association McIntyre Law Firm
Mellon Financial Corporation
Merchants Information Solutions, Inc.
MetLife Investors
Michael Edwards Direct, Inc.
Michael White Associates
Missouri Bankers Association
Mutual of Omaha Insurance Company
Nash and Powers
National Association of Independent Life Brokerage Agencies (NAILBA)
National City Insurance Group
National Underwritier Company
Naugatuck Savings Bank
Nellson Associates
New York Life Insurance Company
NorthEast Community Bank
Northstar Financial Services (Bermuda) Ltd
OceanPoint Insurance Agency, Inc. (BankNewport)
Oklahoma Bankers Association
Old Mutual (Bermuda) Ltd.
Old Republic National Title Insurance Company
OneAmerica Company
Oneida Savings Bank
Oregon Bankers Association (BancSource)

PNC Insurance Services, Inc.
Pacific Century Life Insurance Company
Pacific Life Insurance Company
Pennsylvania Bankers Association
Peoples First Insurance, Inc.
Peoples Insurance Agency
Physicians Mutual Insurance Company
Protective Life Insurance Company
Prudential Financial
Puerto Rico Bankers Association RBC Liberty Insurance
RG Financial Corporation
RGA Reinsurance Company
RSI Insurance Agency, Inc. (RSI Bancorp)
Rawlins National Bank
Reagan Consulting
Regions Insurance Group
ReMark Americas
Renasant Insurance
Ryan Insurance, Inc. (Ulster Savings Bank)
S & T Bank
Sales Quality Research Group
Scotia Insurance
Securian Financial Network
Solvay Bank Insurance Agency, Inc.
Southwest Business Corporation (SWBC)
Southwest Georgia Bank
Soy Capital Bank and Trust Company
Spirit Financial Services
State National Companies
Stephenson National Bank & Trust
StoneEagle Group
Summit Financial Group, Inc.
SunTrust Insurance Group
Sussex Bank
Symetra Financial
TCF Agency, Inc.
TD BankNorth Insurance
Tennessee Bankers Association
Texas Bankers Association
The Allant Group
The American College
The Savings Bank
Thomas L. Cardella & Associates
Tompkins Financial Corporation
TowneInsurance Agency, Inc.
TS Insurance Services, Inc. (Treynor State Bank)
US Bancorp Insurance Services LLC
Union Bankshares Corporation (union Insurance Goup, LLC)
United Bank
United Bank Insurance Agency
UnitedHealth Group
University Insurance (University Bank)
United Services Automobile Association
Univest Insurance Corporation
USI Connecticut, a Goldman Sachs Capital Partner Company
VantisLife Insurance Company
Virginia Bankers Association
Wachovia Insurance Services
WaMu Insurance Services
Webster Insurance
Wells Fargo Insurance, Inc.
WNC First Insurance
WSFS Bank, FSB
XyberNet, Inc.
ZC Sterling

Source: American Bankers Insurance Association

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