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After AIG: Which Insurer Is Next in Line for a Federal Handout?

PRU is next

ING and AEG are not in such great shape (each has substantial US buysiness), and have received funds from their parent-domicile government.

MFC (Manulife) was unhedged on its variable annuities and lost it's AAA rating


Just like investment banks looking for alternate ways to generate revenues (and securitization markets opening a new universefro fees), insurers also found alternate ways, such as variable annuities, etc.

Well with "life insurance" companies (pure life insurance, annuities, some health, Long-term care, etc) the contracts are of a long term and are priced/sold once, so if you make a mistake it's with you for a long time.
Compare that to Propertty & Casualty companies which offer insurance typically on a one-year term basis, and re-price it each year... provides more control.

Life insurance is a much lower ROE business than P&C.

Why does Warren Buffett buy P&C insurance entities primarily (vs Life insurance)? Hmmm, could it have anything to do with the above items