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Man scrutinizing information on a tablet. With reinsurance deals, the primary insurers maintain connections to the policies, according to James Carson, an insurance professor at the University of Georgia’s Terry College of Business. That’s why regulators are watching Athene even though it sold, via reinsurance, some policies to Global Atlantic. (Photo: iStock)

(Bloomberg) – Insurers linked to some of Wall Street’s biggest firms have run into trouble over unhappy customers.

Athene Holding Ltd. and Global Atlantic Financial Group Ltd. have come under scrutiny by regulators in New York and Texas. The companies are part of a recent rush of financial firms getting into the market for life insurance and annuities that’s seen policy sales grow 9% in the last three years to $836 billion.

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