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Guess Who Owns Billions of Stock In The Fast Food Industry? Life and Health Insurers!
April 17, 2010 at 6:53 PM
Health Insurance News
Although fast food can be consumed responsibly, research has shown that fast-food consumption is linked to obesity and cardiovascular disease, two leading causes of death, and contributes to the poor health of children. The evidence is so compelling that as part of the new health law more than 200,000 fast-food and other chain restaurants will be required to include calorie counts on their menus, including their drive-through menus.
A new article on insurance company holdings, published online in today's [Thursday, April 15] American Journal of Public Health, shows that U.S., Canadian and European-based insurance firms hold at least $1.88 billion of investments in fast-food companies.
"These data raise questions about the opening of vast new markets for private insurers at public expense, as is poised to happen throughout the United States as a result of the recent health care overhaul," says lead author Dr. Arun Mohan.
Among the largest owners of fast-food stock are U.S.-based Prudential Financial, Northwestern Mutual and Massachusetts Mutual Life Insurance Company, and European-based ING.
U.S.-based Northwestern Mutual and Massachusetts Mutual Life Insurance Company both offer life insurance as well as disability and long-term care insurance. Northwestern Mutual owns $422.2 million of fast-food stock, with $318.1 million of McDonald's. Mass Mutual owns $366.5 million of fast-food stock, including $267.2 in McDonald's.
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