Mark Walter's Insurer Reduces $6.5B in Loans Amid DOJ Investigation
Delaware Life Insurance Co., controlled by Mark Walter of Guggenheim Partners, is reducing up to $6.5 billion in affiliated assets following a Justice Department probe into its related-party lending practices. The move comes after federal regulators began scrutinizing the insurer's financial arrangements and undisclosed affiliations with loan counterparties. A regulatory filing revealed that TWG Global will purchase these assets from Delaware Life while receiving an equivalent amount of unaffiliated ones. A second Walter-controlled insurer, Clear Spring Life and Annuity Co., also reduced related-party transactions by $90 million. These actions are part of a broader restructuring effort as federal scrutiny intensifies around the insurance sector's lending practices. The changes affect over $20 billion in loans previously flagged for undisclosed affiliations. Walter has been actively divesting major assets, including agreeing to sell the Los Angeles Lakers and considering an exit from his investment in Chelsea FC. These moves aim to generate liquidity and address financial obligations tied to his insurance holdings.
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Topics: asset restructuring DOJ probe Guggenheim Partners insurance Mark Walter