Bank Annuity Income Off 15%

Aggregate revenue from annuities at 20 operating banks plunged 15% in second quarter 2009, according to a new report... Annuities accounted for 61% of brokerage revenues in these banks for the quarter, says Heywood Sloane, managing director of the Bank Insurance and Securities Association, Wayne, Pa., which issued the report.

By comparison, in first quarter 2009, annuities accounted for 68% of brokerage revenues, says BISA...

National Underwriter: Bank Annuity Income Off 15%