Prudential, Allstate other insurers could get TARP money

Treasury Department spokesman Andrew Williams on Thursday confirmed that several large insurance companies could receive capital infusions from the government's Troubled Asset Relief Program. The recipients include Prudential, Lincoln National, Allstate, Principal Financial, Hartford Financial and Ameriprise, he said.

Williams said, however, that this isn't a new program: The insurers qualify for consideration for TARP funds under the Capital Purchase Program because of their status as bank holding companies and because they applied by the Nov. 14, 2008, deadline.

Williams said their applications, like those of hundreds of other financial institutions that are in the pipeline, will be reviewed and funded as appropriate on a rolling basis.

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