List Of Entities Announcing Exposure To Madoff Investments-3-
Entity: Fukoku Mutual Life Co.
Exposure: n/a
Date of disclosure: Dec. 16
Notes: The company said it holds similar investments trusts to those held
by Sumitomo Life Insurance Co. but declined to specify the balance.
Sumitomo disclosed that it has about Y2 billion exposed via trusts.
Entity: Gift of Life Bone Marrow Foundation
Exposure: About $1.8 million in pledges have been affected by Madoff issue
Date of disclosure; Dec. 16
Notes: Gift of Life doesn't have any money invested with Madoff but about
one-third of funds it spent on donor recruitment came from the Madoff
Family Foundation. The organization is trying to raise funds from other
sources.
Entity: Helvetia Holding AG (HELN.EB)
Exposure: Indirect exposure "limited"
Date of disclosure: Dec. 16
Notes: No direct exposure
Entity: ING NV (ING)
Exposure: "No direct exposure"
Date of disclosure: Dec. 16
Notes: "No significant indirect exposure" through clients. ING said none of
the funds its manages have invested money in Madoff's enterprise.
Entity: JEHT Foundation
Exposure: n/a
Date of disclosure: Dec. 16
Notes: The foundation stopped all grant-making and plans to shut down at
the end of January. Its major donors had essentially all their money
invested with the Madoff firm. Grant recipients had included Human Rights
First and the Michigan Department of Corrections, Make Voting Work and the
Innocence Project.
Entity: Massachusetts Mutual Life Insurance
Exposure: Less than $10 million
Date of disclosure: Dec. 16
Notes: "Any impact immaterial to financial condition."
Entity: Meiji Yasuda Life Insurance Co.
Exposure: Y100 million
Date of disclosure: Dec. 16
Notes: Meiji Yasuda didn't invest directly in the Madoff fund.
Entity: Mitsui Sumitomo Insurance Co. (8725.TO)
Exposure: Y800 million
Date of disclosure: Dec. 16
Notes: Mitsui Sumitomo didn't invest directly in the Madoff fund.
Entity: New York Law School
Exposure: $3 million through Ascot Partners
Date of disclosure: Dec. 16
Notes: The school invested the money through its endowment entity. The
school filed an investor lawsuit against J. Ezra Merkin, Ascot Partners and
BDO Seidman.
Entity: Nipponkoa Insurance Co. (8754.TO)
Exposure: n/a
Date of disclosure: The company said it holds similar investments trusts to
those held by Sumitomo Life Insurance Co. but declined to specify the
balance. Sumitomo disclosed that it has about Y2 billion exposed via
trusts.
Entity: North Shore-Long Island Jewish Health System
Exposure: $5.7 million
Date of disclosure: Dec. 16
Notes: Exposure represents less than 1% of the health system's investment
portfolio. A donor agreed to reimburse the system for any losses.
Entity: Robert I. Lappin Charitable Foundation; Robert I. Lappin 1992
Supporting Foundation
Exposure: n/a
Date of disclosure: Dec. 16
Notes: Programs run by the foundations have been discontinued, according to
a statement on the organizations' Web site. Money used to fund the programs
was invested with the Madoff firm.
Entity: Sumitomo Life Insurance Co.
Exposure: About Y2 billion
Date of disclosure: Dec. 16
Notes: Sumitomo Life didn't invest directly in the Madoff fund but part of
its investment trust holdings were linked to it.
Entity: Swiss Life Holding AG (SLHN.VX)
Exposure: CHF90 million, ($78.9 million)
Date of disclosure: Dec. 16
Notes: Swiss Life said it is exposed indirectly through fund of funds. The
loss is less than 0.1% of Swiss Life's assets under management.
Entity: Swiss Reinsurance Co. (RUKN.VX)
Exposure: indirect exposure less than $3 million
Date of disclosure: Dec. 16
Notes: Exposure is through hedge fund investments; no direct exposure.
Entity: Taiyo Life Insurance Co. (6252.TO)
Exposure: Y20 million
Date of disclosure: Dec. 16
Notes: Taiyo Life didn't invest directly in the Madoff fund.
Entity: UBI Banca SpA (UBI.MI)
Exposure: EUR60.4 million
Date of disclosure: Dec. 16
Notes: UBI Pramerica and Capitalgest Alternative Investments, the assets-
under-management units, have no exposure. The bank estimates EUR400,000 in
customer exposure in assets under custody. The bank said EUR450,000 in
exposure is registered in customers' discretionary portfolios at UBI Banca
International SA Luxembourg.
Entity: Aozora Bank Ltd. (8304.TO)
Exposure: Estimated Y12.4 billion ($137 million)
Date of disclosure: Dec. 15
Notes: Aozora entrusted Y12.4 billion to investment funds, which invested
with Madoff. Cerberus Capital Management LP owns a majority stake in
Aozora. Aozora doesn't expect the loss's impact on its financial condition
to be material.
Publié le 26 Décembre 2008
Copyright © 2008 Dowjones
