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.
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