FatDuck3
Sep 29, 7:55 PM
$B $GLD $SLV $JNUG $NEM
❌“Policyholders of a struggling life insurer sued its private equity owner, accusing Golden Gate Capital of self-dealing & mismanaging PHL Variable Insurance Co. to the point that it now faces possible liquidation”❌
This is just a beginning. Remember the reasoning why PC bought these life insurance & insurance companies was to be able to technically hide their balance sheet loses which are significant
Life insurers have something PE firms really want & that's large pools of long-duration policyholder MONEY. A recent Congressional Research Service summary estimates that PE-owned insurers had about
$700 billion of cash & invested assets in 2024, roughly 7.8% of the U.S. insurance industry's total. THEY BOUGHT THESE INSURERS TO GAIN ACCESS TO THEIR BALANCE SHEETS as like a big fat "piggy bank"
This WILL snowball & folks don't know exactly the mechanics of how they are getting f@#ked but soon they'll feel it more so then ever
https://www.bloomberg.com/news/articles/2026-09-28/golden-gate-sued-over-insurer-s-2-2-billion-capital-shortfall
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