I sit down with Tom Gober, a Certified Financial Examiner and Certified Fraud Examiner with 41 years of experience, to discuss the growing problem of private equity, fraud, and reinsurance in the life insurance industry. Tom Gober spent 12 years working with the FBI, uncovering major insurance schemes. Now he's blowing the whistle on the riskiest company, Athene Annuity and Life Company, who's controlled by the massive private equity group, Apollo.

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Chapters:

00:00 - Interview Teaser

01:38 - Guest Introduction: Tom Gober

02:31 - Biggest Concerns About The Insurance Industry

03:08 - Capital Surplus

04:16 - Risks of Offshore and Captive Reinsurance

07:42 - Traditional vs. Modern Reinsurance

16:22 - Mutual vs. Stock and Private Equity Insurance Companies

23:44 - Consequences of Insolvency

26:48 - Tom Gober’s Backstory: Going Undercover *State Examiner *12-Year Collaboration *Reinsurance Schemes

41:15 - Difference Between Banking Regulation and Insurance Regulation

42:33 - Special Purpose Vehicle (SPV)

47:55 - Why Captives Could Be A Valuable to Insurance Companies

57:03 - The Private Equity "Amplifier"

01:07:43 - Concerns Over Ratings and Loan Covenants

01:13:40 - Deep Dive: Analysis of a Major Carrier

01:24:09 - Excessive Affiliated Investments

01:31:56 - Advice for Consumers and Advisors

01:39:29 - Final Thoughts

DISCLAIMER: https://bttr.ly/aapolicy

*This video is for entertainment purposes only and is not financial or legal advice. Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.