Analysts: insurers may reject TARP funding

Analysts at Keefe, Bruyette & Woods told Reuters Friday that some U.S. life insurers with solid capital positions may not accept funds under the U.S. Treasury’s Troubled Assets Relief Program (TARP).

At least four U.S. insurers won approval Thursday to raise billions of dollars through the government’s bank bailout plan, Reuters reported citing information from the U.S. Treasury Department. A Treasury spokesman told the news service Hartford, Prudential, Lincoln National and Principal Financial Group secured a greenlight under the program. The Wall Street Journal also reported that Allstate Corp and Ameriprise Financial Inc had been approved too.