Updated from Tuesday, April 7
The Treasury Department will extend the Troubled Asset Relief Program to several qualifying life insurers that are bank holding companies or own a thrift, according to a report from
The Wall Street Journal
on Tuesday night.
Sources familiar with the matter told the
that the Treasury will announce which companies will be included under the TARP within the next several days. Several insurers have applied, including
Hartford Financial Services
The Treasury claims another $130 billion remains in the TARP war chest; it is unknown how much money would be available to these insurers.
Shares of Hartford were recently rising 21.3 to $10.25. Prudential shares were up 6.8% to $23.60. Lincoln Financial shares were up 29.6% to $8.93.
This article was written by a staff member of TheStreet.com.