SAN FRANCISCO, April 25 California regulators
subpoenaed MetLife Inc (MET.N) and plan a hearing on how the
company paid benefits after learning of an insured's death.
Insurance Commissioner Dave Jones and State Controller John
Chiang on Monday said they are responding to audit findings
indicating that MetLife failed to pay life insurance policy
benefits even after learning that an insured had died.
A MetLife representative could not immediately be reached
"The thrust of this hearing is to determine whether
MetLife, one of the largest life insurers and issuers of
annuities in the United States, engaged in unfair practices
regarding the payment of life insurance claims to
beneficiaries," Jones said in a statement.
The joint hearing is scheduled for May 23 in Sacramento,
(Reporting by Dan Levine; editing by Carol Bishopric)