NYDFS - NY Department of Financial Services

Superintendent of Financial Services Linda A. Lacewell announced today that AIG will pay a $12 million penalty to New York State for New York Insurance Law violations related to its subsidiary American General Life Insurance Company (AGL) and that company’s pension risk transfer (PRT) business. A New York State Department of Financial Services (DFS) investigation uncovered that AGL solicited and did insurance business in New York without a license.