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Violation Tracker Individual Record

Company: Variable Annuity Life Insurance Company
Current Parent Company: American International Group
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $230,820
Year: 2021
Date: September 20, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Variable Annuity agreed to pay a $230,820 penalty in settlement of allegations it failed to examine and ascertain that the Disclosure Statement was accurate and failed to follow several other record keeping and notification regulations.
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.