Q3 Quarterly Earnings: Companies Applying for TARP
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by
Tamiko Toland
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12/19/2008
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The end of the third quarter marked the mid-point of significant changes for VA manufacturers. Since then, a number of companies have filed applications with the Department of the Treasury for funds under the Troubled Asset Relief Program (TARP). Carriers interested in the program had to file a bank or thrift holding company application by December 8, the deadline for application for capital preservation program (CPP) funds, and gain approval by January 15, according to an FAQ. Four VA manufacturers, Genworth, Hartford, Lincoln and Protective, applied for bank holding company status in order to become eligible for the funds; a fifth, Principal, already owned a bank and applied for $2 billion in assistance.
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Highlights of New Variable Annuity Fund Filings in November, 2008
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by
Tamiko Toland
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12/12/2008
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In November, we tracked no new fund filings, marking an unusual change from a consistent trend of at least some new registration in previous Novembers. For example, a year ago there were 15 new funds filed. This change could be due to the market environment and a general reluctance to launch new products when firms are mostly focused on stemming outflows and dealing with other fund-related issues.
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