"We are pleased that we received preliminary approval to participate in Treasury's Capital Purchase Program," said Ramani Ayer, chairman and chief executive officer of the Hartford.

"Applying for participation in the CPP was a prudent step for The Hartford, particularly given the continued economic uncertainty," Mr. Ayer said. "These funds would further fortify our capital resources and provide us with additional financial flexibility during one of the most volatile market climates in our nation's history," he added.

All terms of the actual Treasury investment in The Hartford are subject to final negotiations and approval, he added.

Andrew Williams, a Treasury spokesman, said those approved "met the requirements for the CPP because of their bank holding company status and each applied for CPP capital investments in time to meet a government deadline."

Mr. Williams added, "These companies are among the hundreds of financial institutions in the CPP pipeline that will be reviewed and funded as appropriate on a
rolling basis."

He also said this is an existing program, not a new program.

Several other insurance companies that had applied for aid dropped out, including the Phoenix Companies and Protective Life.

Genworth was turned down because its application to restructure as a bank holding company and therefore become eligible was not approved before the deadline.

Frank Keating, president and chief executive officer of the American Council of Life Insurers, said the trade group "welcomed" the Treasury Department's decision.

"Treasury's reported decision reflects the important role the life insurance industry plays in the lives of 75 million American families, in the financial services system and in the national economy," he said.

"By extending funds to certain insurers, Treasury is taking the right step toward helping restore lending and liquidity to the marketplace," he said.

"We appreciate the significant time and attention Treasury has and continues to put into this process," he added.

The Financial Services Roundtable, whose members include several insurers, voiced support for the Treasury decision. The CPP program was authorized by Congress last September as part of the Troubled Asset Relief Program.

"The TARP program is working and it should be expanded to include as many facets of the financial services industry as possible," said Steve Bartlett, president and CEO of the Roundtable.

"By including life insurers in TARP, it helps ensure the recovery effort is broad and covers all aspects of the economy," he said.