Insurance Bailout Update: They're Mulling It — ProPublica

Insurance Bailout Update: They're Mulling It

May 15, 2009, 10:25 a.m. EDT

Since we posted this morning on the six insurance companes approved for TARP money, the remainder of the companies have released statements. The overall verdict: They'll have to think on it. All applied for the TARP many months ago, and now they're not so sure.

Among the reasons they're skeptical: They don't need the money (says Allstate). And then there are those inconvenient limits on executive compensation, something that none of the companies directly address, but which Principal Financial Group hints at when it says that its participation will ultimately "be based on a review following receipt of all the terms and conditions, both economic and non-economic."

Only one of the six said no outright: Ameriprise. Allstate, Prudential and Principal Financial all said they'll think on it. We've added Principal Financial to our database, because the company seems to have its toe deeper in the water than the others. The company could receive $2 billion. The other two companies, as we noted earlier, are Hartford Financial and Lincoln National.

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