Washington - US insurance companies, some of which have taken massive losses during the ongoing financial crisis, welcomed the news Friday that they will be added to the long list of firms being rescued by the US government.

A group of six insurers, who for months have battled for government support, will be eligible for loans under the 700-billion- dollar financial rescue package approved by Congress in October.

The government has already handed out nearly 600 billion dollars of the money to help Wall Street weather its worst crisis since the Great Depression. But more funds could soon be freed up as some major banks are considering paying back their loans as the financial system stabilizes.

Until now, American International Group (AIG) was the only insurer to have received government funds. Once the world's largest insurer, AIG has played a central roll in the Wall Street crisis, but the Treasury Department has resisted extending aid to other smaller insurers affected by the crisis.

AIG was brought to the brink of collapse in September and has since received bailouts totalling more than 180 billion dollars. The bailout became highly controversial as it emerged that executives continued to pay out some 80 million dollars in bonuses.

"By extending the funds to certain insurers, Treasury is taking the right step toward helping restore lending and liquidity to the market place," Frank Keating, head of the American Council of Life Insurers, said in a statement.

Hartford Financial Services Group, a Connecticut-based insurer, said Thursday night that it had already received preliminary approval for 3.4 billion dollars in loans. Lincoln National Corp said it could get 2.5 billion dollars. Others that may receive support are Prudential Financial Inc, Allstate Corp, Principal Financial Group Inc and Ameriprise Financial Inc.

Steve Bartlett, president of the Financial Services Roundtable, a Wall Street lobby group, said the Treasury should be looking to expand aid to "as many facets of the financial services industry as possible."(dpa)