Filed Under:Your Practice, Regulatory

Talks on ALICO problems underway

Settlement talks are underway between New York state regulators and prosecutors and American International Group and MetLife over allegations that two former AIG insurance units based in Delaware have operated in New York since 2007 without a license. AIG sold the company to MetLife in 2010.

Additionally, the two companies say in securities filings, the New York attorney general is probing whether the two insurance companies, American Life Insurance Company (ALICO) and Delaware American Life Insurance Company (DelAm) paid New York premium and franchise taxes during that period.

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Nichole Morford

Nichole Morford
Managing Editor

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