WASHINGTON--The American Insurance Association in a letter sent yesterday to Congress said lawmakers must ensure money being given to companies under federal aid programs doesn't allow them to compete unfairly with firms not taking U.S. funds.

The letter specifically cites the "Federal Reserve's intervention with American International Group" and the Treasury Department's creation of a Capital Purchase Program (CPP) under which it has designated $250 billion for qualified financial institutions in the form of equity stakes.

Besides AIG, mostly life insurance companies have applied for aid through the programs. They include Hartford Insurance Group, the Principal, Genworth Financial, the Phoenix Companies, Lincoln Financial, Protective Life and Aegon.

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