Insurance firms may get U.S. capital under bailout plan

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Uncle Sam to the rescue, yet again.

Stocks of major insurance firms surged today after the Wall Street Journal reported that the industry may be eligible for capital infusions from the Treasury, as part of the $700-billion financial system bailout program.

‘Treasury wants insurance companies to participate in its program, and is considering taking equity stakes in certain firms, according to people familiar with the matter,’ the Journal said.

That $700 billion could go awfully fast, folks.

Among large insurance companies, Prudential Financial jumped $2.01 to $34.46 today, MetLife Inc. rose $1.96 to $29.80, Aflac surged $2.56 to $38.87 and Hartford Financial Services Group gained $3.39 to $24.30.