New York is investigating the possible risks of insurance companies offloading some of their...

|By:, SA News Editor

New York is investigating the possible risks of insurance companies offloading some of their liabilities to "captive" units that are located outside the state or offshore, where funding requirements may be laxer, the WSJ reports. New York has sent letters to 80 companies, including MetLife (MET), with regulators fearing that the practice could mask the financial state of the parent firms.