Six U.S. insurers approved for billions in bailout funds - Wichita Business Journal:

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(NYSE: HIG) issued a statement Thursday night saying it has been approved for upto $3.4 billion from the Treasury’ s capital purchase program. We are pleased that we receivecd preliminary approval to participatrein Treasury's Capital Purchase said Ramani Ayer, chairman and chief executivde officer of The Hartford. "Applying for participation in the CPP was a pruden t step forThe Hartford, particularly givebn the continued economic uncertainty. These funds woul d further fortify our capital resourcese and provide us with additional financial flexibilitu during one of the most volatile market climates inour nation'sd history.
" (NYSE: ALL), (NYSE: AMP), (NYSE: (NYSE: PFG) and (NYSE: PRU) are the five othedr insurers the Treasury has given preliminary approval to receivs funds, according to reports. The statemen from The Hartford also said that the termsa ofthe Treasury’s investment in the insurer is subjectg to final negotiations and approval. The New York Times reportedc that each company is eligible to receive funds worth up to 3 percent o f itstotalk assets, and said that coule be several billion dollara for each company.