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Stock Market & Financial Investment News

News Breaks
March 31, 2014
13:21 EDTMETMetLife to pay $60M in fines for unlicensed insurance sales
Benjamin M. Lawsky, Superintendent of Financial Services, announced that MetLife will pay $60M for Insurance Law and other violations at its subsidiaries ALICO and DelAm, which it acquired from AIG in 2010. Investigations by the New York State Department of Financial Services, DFS, and the Manhattan District Attorney’s Office uncovered that those subsidiaries solicited insurance business in New York without a license and made intentional misrepresentations and omissions to the Department about those activities. Of the $60M, a $50M fine will be paid to DFS and $10M will be paid to the Manhattan District Attorney’s Office. MetLife has also agreed to fully cooperate with DFS’s investigation concerning Insurance Law violations by AIG, ALICO, and DelAm, and other AIG subsidiaries and affiliates related to conduct prior to MetLife’s acquisition. That investigation remains ongoing and is not resolved. Reference Link
News For MET From The Last 14 Days
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October 16, 2014
07:11 EDTMETAIA, MetLife, others contemplate offers for NAB division, Bloomberg says
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October 15, 2014
08:31 EDTMETMetLife provides $150M agricultural mortgage loan to Amaggi Group
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October 14, 2014
08:04 EDTMETDeutsche sees favorable risk/rewards in Insurance space
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October 9, 2014
08:34 EDTMETMetLife, Panattoni to develop three new industrial parks for nearly $63M
MetLife will develop three new industrial distribution parks for nearly $63M in the Seattle area with the Panattoni Development Company, a privately held, national developer based in Newport Beach, Calif. The greenfield sites will add more than 900,000 square feet of high-quality warehouse space in the Seattle region. MetLife will be the majority owner and Panattoni will be the managing minority partner. The largest of the projects is the Des Moines Creek Business Park, which will comprise three buildings totaling 535,830 square feet on a 37-acre site. Construction of the three greenfield warehouse sites will create a total of 600 jobs. Construction is expected to be completed by mid-2015 for Steele and Tamarack, and by the end of 2015 for Des Moines.
October 7, 2014
06:36 EDTMETRegulators to review 'systemically important' label process, WSJ reports
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