Insurer MetLife will pay $60 million to resolve claims that two subsidiaries solicited business without state licenses and lied to regulators about the extent of their New York operations, courting multinational clients in such spots as a Manhattan dining room while saying they didn’t seek customers in the state, authorities announced Monday.
MetLife Inc. will pay $50 million to the state Department of Financial Services plus $10 million to the Manhattan District Attorney’s Office. In return, the government won’t lodge criminal charges or a lawsuit over the allegations against MetLife, while they continue investigating the subsidiaries’ activities under prior owner American International Group Inc.
