Insurance Co. Tapping the TARP

[agent C]

Has anyone heard that some of Insurance Companies are asking for a bailout from the TARP fund. How do you think this will affect the industry?

 

[Norwayguy]

Has anyone heard that some of Insurance Companies are asking for a bailout from the TARP fund. How do you think this will affect the industry?

Yes and No...I believe the TARP program is for banks only...so in that sense Insurance companies haven't tapped it....however some insurance companies own banks or recently bought banks so they could tap the tarp money...

 

[agent C]

heres a link to the article Life Insurers Start to Get Approval for TARP Funds - FOXBusiness.com

its talking about some rather large Life insurance companies that have applied for a bailout from the TARP.

 

[souldeux]

Kind of scary - it makes me antsy to hear about MORE governmental control in the industry. I don't do the senior market (yet - I'm learning the ropes before I start in, hopefully soon), but my impression is that CMS isn't generally seen as helpful.

However, in the short term at least, this should bolster buyer confidence, yeah?

 

[insuranceexec]

Kind of scary - it makes me antsy to hear about MORE governmental control in the industry. I don't do the senior market (yet - I'm learning the ropes before I start in, hopefully soon), but my impression is that CMS isn't generally seen as helpful.

However, in the short term at least, this should bolster buyer confidence, yeah?

Very astute!

 

[souldeux]

Very astute!

I just wanted to post something so I could see my new avatar in action

 

[jamesflou]

Hartford is listed in that group and I just received a solicitation to have one of 3 spots available in the Atlanta area with their special lead program through Huggins Financial Group in Cumming, Ga. Anyone familiar with Huggins?

 

[jacobtn]

Yes and No...I believe the TARP program is for banks only...so in that sense Insurance companies haven't tapped it....however some insurance companies own banks or recently bought banks so they could tap the tarp money...

Genworth applied for TARP money but were denied. Hasn't affected their stock though! .86 to $5 in 90 days!

 

[Cenla Agent]

Genworth applied for TARP money but were denied. Hasn't affected their stock though! .86 to $5 in 90 days!

I wonder if not being able to dip their hand in the cookie jar helped the stock price.

 

[briko3]

TARP funds are supposedly only for strong companies. I think it's good for the ones who own a bank to stay eligible for the funds. It's just plain smart to have access to cheap capital.