Total insurance revenue at the nation’s bank holding companies rose 1.4 percent to $23.9 billion in the first half of 2010, up from $23.6 billion during the same period in 2009.

Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. led all bank holding companies with significant banking activities in total insurance fee income in the first six months of 2010, according to Michael White Assoc. and the American Bankers Insurance Association (ABIA).

"The top 50 bank holding companies in insurance revenue attained a mean concentration ratio of total insurance revenue to noninterest income of 17.9 percent," said Valerie Barton, executive director of ABIA. "Among the top 50 in this concentration ratio, the mean was 49.4 percent. Those levels of insurance concentration demonstrate considerable contribution to BHCs’ noninterest income. Insurance consistently proves it is a valuable revenue-generating activity during good times and bad times."

During the first six months of 2010, 580 large top-tier bank holding companies (BHCs) – with 62.4 percent reporting – earned some type of insurance-related revenue, compared to 581 in the first half of 2009, according to a statement. During the same time period, 578 BHCs earned insurance brokerage commissions. Sixty-four BHCs reported earning fee income from underwriting and/or reinsurance activities, down from 68 BHCs a year ago.