Life and health insurers are starting to report losses stemming from the recent turmoil at American International Group Inc. and Lehman Brothers Holdings Inc.

Prudential Financial Inc., Newark, N.J., says it owns $117 million in bonds from Lehman, New York, and is valuing that at about $39 million. The company expects to write down losses on the bonds when its third quarter ends Sept. 30.

Pru also holds Lehman bonds backing insurance policies that it calculates have declined in fair value by $16 million, to $8 million.

In addition, Pru is evaluating the current market value of around $90 million in investments in derivatives from Lehman subsidiaries.

The company says it also holds bonds from AIG, New York, that it currently values at $195 million, which is between 41% and 44% of their cost.

As of June 30, Pru valued total investments for its financial services businesses at more than $167 billion.

MetLife Inc., New York, says its net direct investments in both Lehman and AIG total about $800 million, including debt, equities and derivatives. It notes that it has an investment portfolio of $350 billion.

MetLife says it is still evaluating how much it can expect to recover from its AIG and Lehman investments.

Conseco Inc., Carmel, Ind., says it has $19 million in Lehman debt holdings and about $50 million in AIG debt holdings.

Humana Inc., Louisville, Ky., says it holds about $26 million in direct Lehman debt securities, about $29 million in Lehman bonds, and an asset related to an interest rate swap agreement with Lehman Brothers Special Financing Inc. for about $7.1 million.

The company also holds AIG bonds with a fair value of about $4.9 million.

Humana values its current total investment portfolio at about $6.6 billion.

UNIFI Mutual Holding Company, Lincoln, Neb., says its exposure to both Lehman and AIG amounts to 0.25% of its total assets.

The company, the parent of Ameritas Life Insurance Company and other carriers, also says 10% of its total assets are in residential mortgage-backed securities but that about 97% are “investment grade.”

Protective Life Corp., Birmingham, Ala., is reporting $99 million in debt exposure to Lehman and $97 million in AIG debt exposure. The company has $24 million in Fannie Mae debt exposure and $7.6 million in Freddie Mac debt exposure.

Sun Life Financial Inc., Toronto, reported it holds $82 million, in U.S. dollars, in AIG bond securities, along with $212 million in bonds from AIG subsidiaries.

On June 30, the company had a $93 billion investment portfolio.

Manulife Financial Corp., Toronto, says it has $383 million, in U.S. dollars, in Lehman bonds along with $12 million in Lehman derivatives.

Manulife has about $38 million in AIG bonds and $9 million in other types of AIG exposure.

ManuLife says it has total assets of about $153 billion.