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Life insurers cope with fourth-quarter losses

By Staff Writer

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U.S. life insurers are being hit by charges to boost reserves for variable annuity equity market guarantees, according to Reuters news service.

Principal Financial, Lincoln National and Genworth posted fourth-quarter losses amidst cutting jobs, trying to reduce investment risk and unsuccessful lobbying for regulators to ease capital rules.

It’s expected, according to Reuters, the government could approve some insurers for a capital injection as early as today. The Dow Jones U.S. Life Insurance index .DJUSIL rose 2.6 percent Monday, led by Genworth as the biggest percentage gainer.