Global Growth was founded as Eli Global by Greg Lindberg. The conglomerate operated as an information and financial services company. In 2012 Lindberg began investigating the possibility of acquiring insurance companies, displaying a particular interest in the large number of assets retained by such companies to fulfill payouts. In 2014 Eli Global made its first insurance acquisition when it purchased a burial-policy insurer based in Alabama. Lindberg wished to loan the insurer's assets to other businesses he owned, but the number of the company's assets he could invest in affiliated enterprises was restricted by Alabama state laws. Lindberg then relocated the insurer to North Carolina, where regulations on such practices were vaguer, and began trading the burial-policy insurer's investments in treasury bonds for large loans in his own companies. Though North Carolina regulators usually enforced a cap of affiliated investments on insurers at 10% of their assets, the North Carolina Department of Insurance reached a special agreement with Lindberg, allowing his burial-policy insurer to invest as much as 40% of its assets in affiliates, though this limit was also eventually breached. In 2015 and 2016 Lindberg acquired more insurers and grouped them together as the Global Bankers Insurance Group. As a result of the insurer acquisitions, Eli Global became markedly more profitable. Lindberg ultimately loaned about $2 billion from the insurance companies he had acquired to other affiliated corporations. By 2019 he had acquired over 100 companies. In March 2019 Lindberg was indicted by United States federal authorities for bribery. He subsequently relinquished his daily managerial responsibilities at Eli Global. On June 27 the North Carolina Department of Insurance placed several Eli Global insurance companies into "rehabilitation", citing concerns about their liquidity and ability to meet their obligations to policy holders. In September 2019 Lindberg resigned as the company's chief executive officer and its name was changed to Global Growth, though he remained its sole owner. George Vandeman was appointed chairman of the company. Following the disclosure of Linbderg's legal troubles and those of some Global Growth companies, some of the subsidiaries were sued by other corporations for failure to uphold business agreements.
