# The next shadow-banking problem is coming from insurers, where no one expected a bank run

https://mins.news/en/item/37370

- CryptoSlate, 2026-08-30 08:33 UTC
- Economy
- Original: https://cryptoslate.com/the-next-shadow-banking-problem-may-come-from-insurance-companies-where-nobody-was-looking-for-a-bank-run/

> Delaware Life reclassified about $17 billion of investments as related-party holdings in a corrected 2025 filing, while Clear Spring corrected roughly $4.6 billion. Both insurers received grand jury subpoenas from federal prosecutors, and the SEC opened a parallel inquiry. The case highlights how private credit, affiliated managers and illiquid assets have made life insurers increasingly important—and difficult to read—in the US credit system.