Life Insurance Company Owner Faces Wall Street Journal Scrutiny
March 5, 2019 by Allison Bell
The owner of a life insurance group that Colorado Bankers Life Insurance Co., Bankers Life Insurance Co. of Florida, and Southland National Insurance Corp. of Louisiana is squaring off with reporters at the Wall Street Journal.
Two reporters at the Wall Street Journal have suggested in an article published last week that Eli Lindberg, the chairman and chief executive officer of Eli Global LLC, may have had the life insurers in the group invest an unusually high percentage of their assets in affiliates.
Lindberg responded with a press release asserting that the reporters had left key facts out of their story.
Lindberg said that he never used dividends to take cash out of the life insurers, has invested more than $500 million in the U.S. insurance companies in the Eli Global group, and has paid for a team to develop a digital policy administration platform for the insurers’ new insurance products.
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