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New York’s Cuomo Subpoenas Insurers as Probe Widens

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New York Attorney General Andrew Cuomo subpoenaed Genworth Financial Inc., Unum Group and an insurer acquired by France’s Axa SA as the state widens a life-insurance fraud probe, said a person briefed on the demands.

New York Life Insurance Co., Northwestern Mutual Life Insurance Co. and Guardian Life Insurance Co. of America also were ordered to turn over information, the person, who declined to be identified because the subpoenas hadn’t been publicly disclosed, said yesterday. Cuomo is probing profits insurers earn on death benefits that the carriers retain on behalf of the families of deceased policyholders including military personnel.