Future of Insurance Firms Owned by Indicted N.C. Campaign Donor Uncertain

By | April 16, 2019

Insurance companies owned by a big-money donor accused of trying to bribe North Carolina’s top insurance regulator for easy treatment are on the sales block and under review by at least one rating agency.

Entrepreneur Greg Lindberg was indicted earlier this month in what federal prosecutors said was a plot to bribe state insurance commissioner Mike Causey. Days later, Lindberg-owned Global Bankers Insurance Group said it is pursuing buyers for its U.S. life insurance companies. A Global Bankers spokesman said the company had no comment Thursday.

Global rating agency AM Best said April 10 it is reviewing two insurers under the Global Bankers umbrella. AM Best said it’s reviewing “with negative implications” the financial strength ratings of Colorado Bankers Life Insurance Co. and Bankers Life Insurance Co., both based in Durham.

Related:

Was this article valuable?

Here are more articles you may enjoy.