North Carolina-based Global Bankers Insurance Group (GBIG) has said it is looking to sell its US life insurance companies.
This comes after International Adviser reported that its owner, Greg Lindberg, and three others were indicted by the US Department of Justice (DOJ) for “conspiracy to commit honest services wire fraud”.
The group said it has been in active discussion with “potential acquirers” of its US life insurance operations, but it was not specific on whether all companies were up for sale.
GBIG owns Southland National Insurance Company, Bankers Life Insurance Company, and CB Life.
It said in a statement: “Global Bankers made the decision to sell its domestic life insurance companies because it believes it is in the best interests of the company, its policyholders, partners and employees.
“During this process, the collective focus of Global Bankers and its domestic insurance companies will remain squarely on their policyholders and providing solutions to help them address their immediate insurance needs and plan for their long-term financial goals.”
IA reached out to GBIG for a comment about the future of its other European operations; including Association of International Life Offices (Ailo) member GB Life Luxembourg, but the firm declined.
GBIG is a family of insurance and reinsurance companies focused on life insurance and annuities.
