NC Insurance Company Owner Lends $2B from Insurers to personal Use
Insurance Regulators Move to Close Loopholes
North Carolina insurance-company owner used the loopholes as he lent $2 billion from his insurers to his personal enterprises
By Mark Maremont and Leslie Scism March 24, 2019 4:45 p.m.
ET Insurance regulators are moving to plug legal loopholes used by a North Carolina insurance-company owner who lent at least $2 billion from his insurers to his personal enterprises. A Wall Street Journal investigation published last month found that Greg Lindberg started buying life insurers in 2014, then invested as much as 50% of their assets in his own businesses, a move that some experts say has little precedent in recent decades in the staid insurance industry. …
Please read the rest of the story from the Wall Street Journal.
Very interesting story. Any thoughts on this?