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Violation Tracker Individual Record

Company: Pacific Life Insurance Company
Current Parent Company: Pacific Life
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $3,000,000
Year: 2021
Date: December 21, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Pacific Life agreed to pay a $3 million dollar penalty in settlement of alleged violations of the New York Insurance Law in connection with the Company's pension risk transfer business by engaging in insurance business 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 Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: mutual
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.