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Insurers Win Approval for U.S. Treasury Funds

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14 May 09 | FT

At least four U.S. insurers won approval on Thursday to raise billions of dollars through the government’s bank bail-out plan, the U.S. Treasury Department said.

Hartford Financial , the No. 4 US insurer and beset by worries about capital, got preliminary approval to raise $3.4bn via the Troubled Assets Relief Program, known as TARP.

The three other insurers that also secured a greenlight are Prudential Financial , Lincoln National , and the Principal Financial Group , a Treasury spokesman said.

The Wall Street Journal reported that Allstate and Ameriprise Financial had been cleared too. >>>

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Written by Editors

14 May 2009 at 11:45 pm

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