WASHINGTON--A majority of members of the American InsuranceAssociation feel they are "well capitalized and well positioned" todeal with the current economic turmoil and don't plan toparticipate in the federal government's program to buy troubledassets.
The AIA's position was disclosed in a statement today signed byEvan Greenberg, chairman and chief executive officer of ACE Groupand AIA chairman.
The AIA's position is contrary to that of the American Councilof Life Insurers and its members. In recent comments, ACLI and itsmembers said they have met with Treasury officials and asked themto allow life insurers to participate in the bailout plan, theTroubled Asset Relief Program (TARP).
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