Violation Tracker Individual Record

Company: 
American International Group
Current Parent Company: 
American International Group
Penalty: 
$12,000,000
Year: 
2021
Date: 
February 1, 2021
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

AIG agreed to pay a $12 million penalty in settlement of alleged violations of New York Insurance Law by a subsidiary doing pension risk transfer business in the state without a license.

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 Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.