Policyholders of a struggling life insurer sued its private equity owner, accusing Golden Gate Capital of self-dealing and mismanaging PHL Variable Insurance Co. to the point that it now faces possible liquidation.

Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-09-28/golden-gate-sued-over-insurer-s-2-2-billion-capital-shortfall)

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