Dodgers Owner's Insurer to Shed $6.5B in Related-Party Loans After Federal Probe
Delaware Life Insurance Co., a company controlled by Guggenheim Partners CEO Mark Walter, has agreed to divest up to $6.5 billion in affiliated assets. The decision follows federal investigators' scrutiny of the insurer's related-party lending arrangements, according to Bloomberg. Walter, who also owns the Los Angeles Dodgers, leads Guggenheim Partners as its chief executive. The divestiture marks a significant regulatory-driven restructuring for the insurance firm.
Key facts
- Delaware Life Insurance Co. agreed to shed up to $6.5 billion in affiliated assets.
- The insurer is controlled by Mark Walter, CEO of Guggenheim Partners.
- Federal investigators probed the company's related-party lending arrangements.
- The agreement directly addresses the federal scrutiny.
- Bloomberg first reported the development.
- Mark Walter also owns the Los Angeles Dodgers.
- The divestiture involves related-party loans.
- The amount involved is up to $6.5 billion.
Entities
Institutions
- Delaware Life Insurance Co.
- Guggenheim Partners
Sources
- Quartz —