Greg Lindberg victims due to get paid after Judge OKs sharing contact info

A North Carolina judge approved the release of personal policyholder information so the special master can begin getting funds to victims of Greg Lindberg’s fraud.

Magistrate Judge David C. Keesler signed the consent order directing the National Organization of Life and Health Insurance Guaranty Associations and the North Carolina Insurance Companies -- four insurers once owned by Lindberg -- to turn over names, phone numbers, addresses, emails, Social Security numbers and other information.

Special Master Joseph W. Grier, III is attempting to track down policyholders to distribute approximately $300 million in proceeds from the sale of the Clanwilliam companies this summer.

In November, Lindberg pleaded guilty to engineering a $2 billion fraud. His guilty plea on a money laundering conspiracy charge carries a maximum 10-year sentence, the Department of Justice said. Lindberg also pleaded guilty to one count of conspiracy to commit offenses against the United States, including wire fraud, investment adviser fraud, and crimes in connection with insurance business.

Sentencing is being delayed while Lindberg works with a special master to recover funds for his victims.

The Clanwilliam story

The Clanwilliam sale came to light this summer as a source of funds for victims.

According to reports in the Irish press, Eli Global, Lindberg’s private equity firm, invested in Helix Health in 2014. This investment led to the creation of Clanwilliam Group. Lindberg served as a director of Triton Financial, which in turn was the sole shareholder of Clanwilliam Headquarters, the entity that owned the Clanwilliam Group name.

In November 2020, a UK-based trust, Clanwilliam Group Trust, was established to take control of Clanwilliam companies. TA Associates Management acquired Clanwilliam via a "$450 million LBO on March 13, 2025," according to Pitchbook Data.

Clanwilliam "is a developer of healthcare software intended to serve pharmacists, acute hospitals, care homes, and private clinicians of every specialty and national healthcare organization," Pitchbook reported.

On June 27, 2019, Southland National Insurance Corp., Colorado Bankers Life Insurance Co., Bankers Life Insurance Co., and Southland National Reinsurance Corp. – all previously owned by Lindberg – were placed in rehabilitation by order of the Superior Court of Wake County, North Carolina.

Many policyholders, mainly with Bankers Life, have waited years to access their funds. The consent order gives no timelines, other than the policyholder information is to be returned within 90 days of the conclusion of the special master's appointment.

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InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at john.hilton@innfeedback.com. Follow him on Twitter @INNJohnH.