Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: MetLife
Current Parent Company: MetLife
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $50,000,000
Year: 2014
Date: March 31, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: The Department of Financial Services announced that MetLife would pay a $50 million penalty for Insurance Law and other violations at its subsidiaries ALICO and DelAm, which it acquired from AIG in 2010. An investigation uncovered that those subsidiaries solicited insurance business in New York without a license and made intentional misrepresentations and omissions to DFS about those activities.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.