Concerns at AFLAC (AFL) Sends Insurance Group Lower

With significant weakness in AFLAC Inc. (NYSE: AFL), on concerns about hybrid securities, other insurers are also under heavy pressure today.

Hartford Financial Services Group (NYSE: HIG) is down 12%, Lincoln National Corp. (LNC) is down 8%, MetLife, Inc. (NYSE: MET) is down 13%, Principal Financial Group (NYSE: PFG) is down 13%, Prudential Financial (NYSE: PRU) is down 15%.

AFLAC is down 31% after a Morgan Stanley anslyst said the insurer may face losses on investments in hybrid securities issued by firms including Royal Bank of Scotland Group Plc, HBOS Plc and Barclays Plc. The firm said the hit to Aflac's capital ratios could be substantial and capital adequacy could be significantly less than investors think.

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