Violation Tracker Individual Record

Company: 
MetLife
Current Parent Company: 
MetLife
Penalty: 
$50,000,000
Year: 
2014
Date: 
March 31, 2014
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 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.