Many of the U.S. banks diversified in the past few years to get into the insurance field. Some started their insurance operations while the majority of them acquired insurance companies or agencies.
Today, large banks such as Well Fargo (NYSE:WFC) derive a large amount of income from their insurance divisions. The following chart lists the top 50 U.S. bank holding companies ranked by their total Insurance income for year 2008:
click image to enlarge
Source: Michael White Associates and American Bankers Insurance Association