News from Insurance Journal:

An insurance empire that included two insurance carriers, two offshore reinsurers, several buildings and other insurers’ investments was built by a private equity firm in part on questionable assets and is now being dismantled, according to the Wall Street Journal.

And the collapse of the Southport Lane insurance empire is raising questions about regulation of the flow of new money into the insurance business.

In a March 20 article, “Young Financier’s Insurance Empire Collapses,” The Wall Street Journal exposed the dealings of Alexander Chatfield Burns, a 28-year-old who founded private equity firm Southport Lane Management LLC in 2010.<……….. continues on Insurance Journal.

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