TWG Global denies fraud allegations amid federal investigations

TWG Global, the holding company led by Mark Walter, has issued a strong denial against allegations of fraud following federal investigations into its insurance subsidiaries. The company stated that there has been ‘no fraud’ and that no parties have been harmed by its business practices.

The scrutiny involves the U.S. Department of Justice and the Securities and Exchange Commission, focusing on approximately $20 billion in reclassified investments. Regulators are examining whether private-credit loans linked to Walter’s entities were properly disclosed as related-party transactions. TWG maintains that such affiliated transactions are standard within the insurance industry and is working to resolve regulatory inquiries.

Despite the investigations and a negative outlook revision by S&P Global Ratings for Delaware Life Insurance Company, neither Walter nor his companies have been charged with wrongdoing. TWG also addressed rumors regarding the sale of its sports assets, stating it is not looking to sell assets at ‘fire sale’ prices to raise capital for insurance operations.