Golden Gate Sued Over Insurer’s $2.2 Billion Capital Shortfall
Policyholders have sued private equity firm Golden Gate Capital, alleging mismanagement and self-dealing at PHL Variable Insurance Co. The insurer is currently facing a $2.2 billion capital shortfall and potential liquidation.
Policyholders of a struggling life insurer sued its private equity owner, accusing Golden Gate Capital of self-dealing and mismanaging PHL Variable Insurance Co. to the point that it now faces possible liquidation.
READ NEXT
More on the wire
AI TLDR
The U.S. Senate rejected an amendment that would have capped annual ticket price increases for college sporting events at four percent. The proposal was part of the broader Protect College Sports Act.
AI TLDR
A nor'easter caused flooding and travel disruptions across the Northeast, resulting in hundreds of flight delays and cancellations from New York to Maine.
AI TLDR
A 2027 NFL mock draft projects the Dolphins selecting wide receiver Jeremiah Smith first overall. The draft analysis also suggests Arch Manning will be selected by the Cardinals.