MetLife Hit By SEC Market Timing Scrutiny
NU Online News Service, March 8, 3:14 p.m. EST
The insurer, which offers auto and home insurance as well as life coverage among its products, said the SEC scrutiny involves a limited number of privately placed variable insurance contracts sold through its General American Life Insurance Company, St. Louis unit.
On an earnings basis, property-casualty lines represent seven percent of MetLife's business.
The company, according to a March 5 10K filing, is in the process of responding to the SEC inquiry. "At present time," Met Life writes, it is "not aware of any systemic problems with respect to such matters that may have a material adverse effect on the company's consolidated financial position."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.