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Burton Malkiel Talks About Efficient Markets
In this video sponsored by Vanguard, Burton Malkiel, Princeton professor and author of "A Random Walk Down Wall Street," talks with RIJ editor Kerry Pechter about what "efficient market" means to him. The 10th edition of "A Random Walk" has just been published.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
October 20, 2011, Annuities, News
Record annuity sales at bank holding companies
Three-fourths (74.7%) of bank holding companies with over $10 billion in assets earned first-half annuity commissions of $1.46 billion, constituting 95.2% of total annuity commissions reported by the banking industry.
Income earned from the sale of annuities at bank holding companies (BHCs) in the first half of 2011 hit a record $1.53 billion, up 25% over $1.22 billion earned in the first half 2010, according to the Michael White-ABIA Bank Annuity Fee Income Report.
Second-quarter 2011 annuity commissions also reached record heights in rising to $781.4 million, up 21.9% from $640.9 million earned in second quarter 2010 and up 4.4% percent from $748.2 million in first quarter 2011, the report showed.
The report, compiled by Michael White Associates and sponsored by American Bankers Insurance Association, is based on data from all 6,805 commercial and FDIC-supervised banks and 934 large top-tier bank holding companies operating on June 30, 2011.
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