Magazine date:
Jun 2009 The Department of the Treasury has accepted to grant access of the Troubled Asset Relief Program (TARP) to six large American life insurance groups. For several months, some of the sector's major groups have been knocking on the government's door for financial assistance after having important losses. Hartford Financial Services Group has consequently unveiled the possibility of obtaining 3.4 billion USD from TARP scheme.
Lincoln Financial Group has also received the green light from the Treasury Department for a 2.5 billion USD bailout plan. Applications from insurers Allstate Corp., Ameriprise Financial, Principal Financial Group and Prudential Financial have also been approved.