NEW YORK (Reuters) – New York State's top insurance regulator has sent subpoenas to four U.S. insurance companies as part of a probe of potential sanctions violations involving Iran, a person familiar with the matter said on Tuesday.

The Department of Financial Services sent the subpoenas to Chubb Corp, CNA Financial,Liberty Mutual and Navigators Group, demanding information related to their dealings with Swiss-based commodities giant Glencore Xstrata and its Iranian metals trade.

Glencore said last year that it had done nothing wrong when it engaged in metal swaps with Iran.

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
NOT FOR REPRINT

© 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.

Commercial Lines
E&S/Specialty
Regulation/Legislation