US Treasury Department says MetLife unit settles over Iran sanctions violations

WASHINGTON (Reuters) – The U.S. Treasury Department said on Thursday that New York-based insurer MetLife (NYSE:MET)’s unit, American Life Insurance (NS:LIFI) Company, agreed to settle its potential civil liability for over 2,300 apparent violations of sanctions against Iran.

The Treasury Department’s Office of Foreign Assets Control (OFAC) announced a $178,421 settlement with the MetLife unit.