Big Money Donor Greg Lindberg Indicted; Insurance Firms In Flux
RALEIGH — 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 last week 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.
Global rating agency AM Best said on Wednesday 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.
State GOP Chairman Robin Hayes and Lindberg are among four people charged in federal indictments unsealed last week.
Hayes and a Lindberg spokesman didn’t immediately respond to requests for comment.
Federal prosecutors said Hayes, Lindberg and two Lindberg associates promised or gave Causey millions of campaign dollars to do things Lindberg wanted, such as seeking the removal of a deputy insurance commissioner responsible for examining Lindberg’s Durham-based business.
Lindberg has given more than $5 million to North Carolina candidates, party committees and independent expenditure groups.
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