Insurers Linked to Wall Street Face Scrutiny Over Irate Clients
- New York, Texas regulators look into Athene, Global Atlantic
- One customer says it took a year-plus just to get basic info
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Insurers linked to some of Wall Street’s biggest firms have run into trouble over unhappy customers.
Athene Holding Ltd. and Global Atlantic Financial Group Ltd. have come under scrutiny by regulators in New York and Texas. The companies are part of a recent rush of financial firms getting into the market for life insurance and annuities that’s seen policy sales grow 9 percent in the last three years to $836 billion.