Dodgers owner sued over life insurance self-dealing

A Florida annuity holder is suing Delaware Life Insurance and companies tied to Dodgers owner Mark Walter, alleging the insurer concealed that about 42% of its invested assets were related-party investments by the end of 2025, up from the roughly 3% it had disclosed. Plaintiff Ira Rosner says he bought a $1 million annuity in April promising over $181,000 in annual guaranteed income, unaware of the exposure.

The suit, filed amid U.S. Attorney and SEC investigations, says Delaware Life kept selling annuities for more than four months after receiving federal grand jury subpoenas in February without disclosing the probe. Restated figures show private-credit investments tied predominantly to Walter affiliates grew from about $9.53 billion at the end of 2024 to $16.82 billion by mid-2025.

Rosner surrendered his annuity in August after learning of the investigation, absorbing a surrender charge and market adjustment of over $116,000. Walter's TWG Global has denied fraud, saying it stands firmly behind the integrity of its business, while Walter himself recently sold the Lakers for $2.5 billion and offloaded his Chelsea stake.

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