Doesn't your need for a Federal bailout mean that you are incompetent and that prudent people should not trust you for their life insurance?
Prudential Financial Inc., Hartford Financial Services Group Inc. and Allstate Corp. are among six insurers approved by the U.S. government for bailout funds after investment declines eroded capital across the industry.
Hartford won preliminary approval for $3.4 billion from the Treasury Department’s capital purchase program, the Connecticut- based insurer said today in a statement. Lincoln National Corp. said it may receive $2.5 billion. Principal Financial Group Inc. and Ameriprise Financial Inc. joined Prudential and Allstate in winning preliminary approval, said Andrew Williams, a spokesman for the Treasury.
Get Met. It pays. Without a bailout.
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