"Healthy Mass. insurers won't seek US funding; Liberty Mutual, Mass Mutual say they are strong" by Todd Wallack, Globe Staff | June 6, 2009
Several of the Bay State's biggest insurers, including Liberty Mutual and Mass Mutual, said they have no plans to apply for federal aid under the $700 billion Troubled Asset Relief Program, though the government has started making funds available to insurance companies....
Several life insurance companies have been hurt by investment losses, similar to other financial companies, prompting some of them to seek federal relief....
Where's my bailout?
In Massachusetts, two of the state's largest life insurance companies, John Hancock Financial Services in Boston and Sun Life Financial in Wellesley, are not eligible for US taxpayer funds because they are owned by Canadian firms....
Pffft! This state sucks.
So do others:
"Hartford to get as much as $3.4b in TARP funds" by Bloomberg News | June 13, 2009
NEW YORK - Hartford Financial Services Group Inc., the insurer that has raised capital from equity sales at least five times this decade, will accept as much as $3.4 billion in federal bailout funds....
But we got nuthin' for the kids' sports.
The funds may be used to repurchase outstanding debt, the firm said.
Oh, so they gonna shuffle money around and play games, huh?
The insurer is welcoming an investment from Treasury's Troubled Asset Relief Program and the pay curbs that may come with it.
I'd welcome about $3 billion dollars myself.
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