MetLife Sued Over ‘Shadow Insurance’ Targeted by Regulators
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MetLife Inc., the U.S. life insurer deemed by regulators as too big to fail, engages in in practices that threaten national economic health, according to a lawsuit filed by a policyholder.
MetLife, the biggest U.S. life insurer by assets, made misleading statements about its financial condition and overstated the amount of reserves it maintains to absorb unexpected losses or financial shocks, according to a complaint filed today in Manhattan federal court by policyholder Andrew Yale.