Health insurers invest in fast food chains

Large insurers of health, disability and long term care invested heavily in fast food chains such as McDonald's and Pizza Hut, CBS radio news reported citing a study in the American Journal of Public Health.

Researchers including the Harvard Medical School's Dr. Wesley Boyd find big health insurers invested nearly $2 billion in fast food eateries which sell foods linked to obesity and cardiovascular disease.

According to the study, Northwestern Mutual have $422.2 million invested in McDonald's and others.  Massachusetts Mutual invested $366.5 million in fast food stock with the majority going to McDonald's.

ING offering life and disability insurance owns $406 million in stocks vested in McDonald's, Yum! Brands, and Jack in  the Box.  And Prudential Financial Inc selling life insurance and long term disability has 355 million investment in fast food chains including McDonald's, Burger King, Yum! Brands and Jack-in-the-Box.

Boyd was quoted as saying "In order to generate profits, they will invest in any area they need to … to make money, even if what they invest in, in this case fast food, is an industry that is known to cause people to get sick and to die early."

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