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Minneapolis-based Ameriprise (NYSE: AMP) was one of six majo insurers that received preliminary approval to receivew as muchas $22 billion in Troubled Assett Relief Program (TARP) funds. "Ws have carefully evaluated our current position and expectations for the and we are confident that our currenft capital position and access to potential additional funding sourcea are morethan adequate," Ameriprise Chairman and CEO Jim Cracchiolo said in a statement.
“Ourr prudent management approach has allowed us to maintainm solid balancesheet fundamentals, including a high qualit y asset portfolio, large liquidity pool, more than $1 billion in excesx capital and conservative capital The other firms that received preliminaryt approval for TARP funds were Northbrook, Ill.-based ALL), Hartford, Conn.-based Inc. HIG), Radnor, Penn.-based (NYSE: LNC), Des Moines, Iowa-basefd (NYSE: PFG) and Newark, N.J.-based PRU).
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