SNL Financial recently published its ranking of publicly-listed companies which have strong insurance units. Banking giants Bank of America(BAC), Wells Fargo(WFC) and Triton Insurance, a subsidiary of Citigroup(C)Â appear in the top 10 list.
These companies were selected based on the first quarter financial performance of their insurance divisions.
The Top 10 Companies with Strong Insurance Units:
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Source: SNL Financial
Big banks such as the three super banks noted above have been expanding their insurance operations for many years now since insurance business can be highly profitable compared to traditional banking. In addition to these banks, large regional banks such as BB&T Corp (BBT) also have large insurance divisions that contribute a significant portion to their earnings.
