Insurance company Allstate Corp. said Tuesday its investments in companies facing financial issues as part of the current crisis on Wall Street amount to less then 2 percent.
Allstate said the total amount of investments in several companies is not material. Those companies include Merrill Lynch & Co, American International Group, Bank of America, Goldman Sachs Group Inc., Lehman Brothers Holdings, Morgan Stanley, JP Morgan Chase & Co., Washington Mutual Inc., and Fannie Mae and Freddie Mac.
The government is developing a possible rescue plan for American International Group and Wall Street, while Lehman Brothers has already filed for bankruptcy and Merrill Lynch is selling itself to Bank of America. The government took control of Fannie and Freddie earlier this month.
Shares of Allstate rose 53 cents to close at $44.80.
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