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Violation Tracker Individual Record

Company: William Penn Life Insurance Company
Current Parent CompanyLegal & General Group PLC
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $6,300,000
Year: 2018
Date: May 3, 2018
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: The Department of Financial Services fined William Penn Life Insurance Company $6.3 million for engaging in improper reinsurance transactions in an effort to minimize reserves backing life insurance policies issued by the company.
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: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: asset management
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.