Back in March, MetLife found themselves faced with a 10-million-dollar fine to the Office of the Manhattan District Attorney, as well as much greater than $ 50 million to the New York State Department of financial services, due to the activities of the subsidiary companies that it purchased from AIG to return in 2010.In early April, AIG in a lawsuit against the State Management Agency in an effort to prevent them from being able to enforce the proceedings with respect to the operations of ALICO. Since then, insurers have worked to find ways to protect yourself from the potential results of the efforts of the Department to apply fines as a result of the activities of the two companies that have sold out. Many of those efforts came to a sudden stop, last Friday, when the official announcement of the penalties were first made.After the announcement was made by the Department to announce the fines that AIG was required to pay, the insurance company will also be obliged to retreat that match. This, according to a consent order.
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