(Bloomberg) — New York Attorney General Eric Schneiderman asked a judge to dismiss American International Group Inc.’s lawsuit against the state’s top financial regulator, saying the insurer is trying to interfere with a probe of unlicensed overseas insurance sales.
“The investigation of AIG is not complete, and it remains to be seen what statutory violations, if any, would be charged,” Schneiderman said in a memo to U.S. District Judge Alison Nathan in Manhattan.
AIG, based in New York, sued the Department of Financial Services and its superintendent, Benjamin Lawsky, in April to block the regulator from fining it for selling insurance overseas without a state license. The insurer claims the state law is unconstitutional, violates its free-speech rights and discriminates against out-of-state commerce.
AIG was rescued by taxpayers in a bailout that began in 2008 and swelled to $182.3 billion. The insurer finished repaying the U.S. in 2012.
John Diat, an AIG spokesman, declined to comment on Scheiderman’s request.