- The provider of retirement products, life and health insurance said it expected to be able to borrow up to $2B, if approved for the program.
- Principal joins several other U.S. life insurers, and Dutch insurer Aegon NV -- on behalf of its U.S. unit Transamerica -- to have applied for government funding as part of the United States' $700B bank bailout.
- Note: Principal said it made the application as a savings and loan holding company, given its ownership of Principal Bank. Life insurers are lining up to tap government sources of funding after being hurt by investment losses.
- Principal's profit tumbled 60% in the third quarter hurt by losses tied to impairments on fixed income securities and equities.

Other headlines for [PL]

• 11/21/2008 08:16am
  Merrill making cautious comments on life insurance names, cutting price targets- LNC price target cut to $13 from $36 - PNX price target cut to $2 from $5 - PRU price target cut to $52 from $86 - more...
  
• PL 11/18/2008 06:16pm
  Protective Life Corp Applies for bank holding status and US Treasury's capital purchase program- The provider of retirement products, life and health insurance said it expected to be able to borrow up to $2B, if approved more...
  
• PL 11/18/2008 06:13am
  Protective Life Corp Price Target lowered to $24 from $45 at Merrill, maintains buy rating
  

Financials sector headlines

• FC Today 08:17pm
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• HTLF Today 08:17pm
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• FSGI Today 08:15pm
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• HF Today 07:51pm
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• AGS.UK Today 07:50pm
  Aegis Group Holder Mr. Bollore plotting 90p/share bid for company - FT