Entries tagged "insurers"
The life insurance industry could be the third industry to be bailed out by The Treasury Department, sparking a debate on whether life-insurers should get TARP funds.
Shares fell nearly 30% after Lincoln Financial Group withdrew its application for government's Temporary Liquidity Guarantee Program.
Health insurers have become the latest members of the troubled insurance industry to trim their ranks as the global downturn has forced the sector to readjust and cut costs. Philadelphia-based Cigna Corp. announced Monday it would layoff 1,100, or 4% of its work force as part of a corporate restructuring plan. Cigna said it expects to record an after-tax charge of $30 million to $40 million in the fourth quarter of 2008 as a result of the cost reduction efforts. ...
Soon every type of institution will be acquiring banks to convert into a bank holding company in order to qualify for infusions from the government under the $700 billion Troubled Asset Relief Program. Right? But do they need to under Paulson Plan B? ...
