Numerous Facts Omitted From Recent Wall Street Journal Article On Greg Lindberg’s North Carolina Insurance Companies
DURHAM, NORTH CAROLINA, UNITED STATES, December 23, 2022/ EINPresswire.com / -- A spokesperson for Greg Lindberg says that the Wall Street Journal’s recent article on Greg Lindberg’s insurance companies omitted numerous facts:
• Single-Family Real Estate Investment – Mr. Lindberg has never spent a single night inside the Raleigh, N.C. house referred to in the Wall Street Journal. This property was never used as a personal residence for Mr. Lindberg. It was an investment. In fact, the North Carolina Department of Insurance (NCDOI) encouraged Mr. Lindberg’s insurance companies to make more real estate investments.
• No Dividend Payments to Mr. Lindberg – To the contrary, Mr. Lindberg has invested over $500 million in his insurance companies, including for the hiring of experienced leadership and the development of a state-of-the-art digital policy administration platform for the companies’ new insurance products. Before he acquired his first insurance company, Mr. Lindberg established a no-dividend policy for each insurance company to protect policyholders and ensure that the capital that Mr. Lindberg had invested was permanent capital. That no-dividend policy remains in place today.
• U.S. Insurance Companies Have Significant Liquid Assets – The U.S. insurance companies have more than $1 billion in liquid assets.
• Team Established to Invest Insurance Assets – Mr. Lindberg spent tens of millions of dollars on a team to invest insurance assets and then delegated the investments to this team. Mr. Lindberg hired over 100 investment professionals, lawyers, and accountants and spent tens of millions of dollars on their compensation to ensure that insurance reserves were invested according to the affiliate loan compliance plan that Mr. Lindberg personally drafted. This detailed affiliate loan compliance plan mandated that the insurance investment team follow a whole series of processes to comply with the laws and regulations governing these loans. In this compliance plan, Mr. Lindberg appointed six individuals to the clearly defined Investment Compliance Department and Insurance Investment Underwriting Team. Mr. Lindberg was not one of those individuals.
About Greg Lindberg
Greg Lindberg is an entrepreneur, a leadership coach, an author, and a father. His latest book describing his time at Federal Prison Camp Montgomery can be downloaded at www.greglindberg.com or purchased on Amazon. Over the course of his career, he has acquired and transformed more than 100 companies that were either failing or underperforming, each time finding and empowering great talent—people with the same commitment to hard work, learning, entrepreneurship, and a roll-up-your-sleeves attitude. Today, these companies are worth billions of dollars and employ 7,500 people. In 2020, he founded Interrogating Justice, a non-profit organization whose mission is to bring awareness and help advance solutions that hold corrupt government actors accountable, ensure fairness in sentencing, support reentry, and provide access to justice for all. To learn more visit: https://interrogatingjustice.org/
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