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

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(NYSE: HIG) issued a statement Thursday night sayinh it has been approved for upto $3.4 billionj from the Treasury’s capitalp purchase program. We are pleasedd that we received preliminary approval to participatwin Treasury's Capital Purchase Program," said Ramani Ayer, chairmaj and chief executive officer of The "Applying for participation in the CPP was a prudent step for The particularly given the continued economic These funds would further fortify our capitalk resources and provide us with additionalk financial flexibility during one of the most volatile markett climates in our nation'z history.
" (NYSE: ALL), AMP), (NYSE: LNC), (NYSE: PFG) and PRU) are the five other insurers the Treasury has givebn preliminary approval to receive according to reports. Ameriprise Financial issued a statement Fridayu morning saying it has declineed the opportunity to get money fromthe “While we appreciate Treasury’s approvao of our application, we have elected not to accept said Jim Cracchiolo, chairmah and chief executive officer of Ameriprisre Financial.
”We have carefully evaluatec our current position and expectations for the and we are confident that our currentr capital position and access to potential additional funding sources are more than The statement from The Hartford Thursday said that the terms ofthe Treasury’sw investment in the insurer is subject to finalo negotiations and approval. The New York Times reported that each companyt is eligible to receive funds wortjh up to 3 percent o f its total and said that could be severak billion dollars foreach company.