Goldman Sachs Discloses $1.1 Billion of 2012 Reinsurance Revenue
This article is for subscribers only.
Goldman Sachs Group Inc., which generates the most revenue from equity trading of any bank in the world, said $1.08 billion of that revenue comes from its reinsurance business.
The unit produced $880 million of revenue in 2011, Goldman Sachs said today as it disclosed the contribution for the first time in its fourth-quarter earnings report. Reinsurance revenue accounted for 13 percent of the bank’s $8.21 billion of 2012 equities revenue.