North Carolina insurance officials are seeking appointment of a temporary receiver to take control of hundreds of private companies owned by insurance executive Greg Lindberg, newly unsealed state court documents show. Mr. Lindberg’s private companies owe $1.3 billion to four insurers formerly under his control and $2.1 billion overall, the documents show. State Insurance Commissioner Mike Causey took control of those insurers in June based on concerns about their financial health, with court approval.

Source: Wall Street Journal January 16, 2020 00:11 UTC