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Thursday, December 9, 2010

Insurers Also Drank From Fed Well

NEW YORK (TheStreet) -- American International Group( AIG) was not the only insurer that tapped the U.S. Federal Reserve's Commercial Paper Funding Facility in 2008.

According to a report by The Wall Street Journal Prudential Financial (PRU) borrowed a total of $2.46 billion, MetLife( MET) borrowed $1.64 billion, Hartford (HIG) borrowed $472.1 million, Lincoln National(LNC) borrowed $472.1 million and Genworth Financial(GNW) borrowed $202.4 million.

All insurers repaid the funds in 2009.

--Written by Maria Woehr in New York.

To contact the writer of this article, click here: Maria Woehr.

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