Similarly , life insurers expected their number of individual policyholders to double by the end of 2013 from the end of 2009 . Last year the group expected only a 74 % rise .
The near collapse of equitable life happened because the company had encouraged its policyholders to believe they might receive almost the full value of the funds that underpinned the with-profits funds of the business .
In addition , a bankruptcy risked driving away many of aig 's roughly 74 million policyholders , forcing them to replace insurance contracts at a difficult time , adding to economic troubles in the more than 100 countries in which aig operates .
' If a federal agency had had such tools on sept.16 , they could have been used to put aig into conservatorship or receivership , unwind it slowly , protect policyholders , and impose haircuts on creditors and counterparties as appropriate , ' mr. bernanke said .
