UNICORN PRIVATE Sanctions fines for insurance companies
In short
Published cases on this page: 2. Authorities: 1. Years: 2023 to 2024.
In the United States (OFAC, BIS) and in the United Kingdom (OFSI, since 15 June 2022) civil liability is strict: a company can be fined even if it did not know that the counterparty was sanctioned.
Amounts are shown in the currency of the decision and are never converted.
Good to know
- No insurer fined in the UK or the EU was found.
Cases
Cases shown: 2 of 2
| Sector | What happened | |||||
|---|---|---|---|---|---|---|
| American Life Insurance Company (MetLife)Civil enforcement action (penalty or settlement) | United States | Insurance | OFAC (US Treasury) | $178,421 | The insurer issued group policies to UAE schools and entities owned or controlled by the Government of Iran. Official source verified on November 13, 2026 | |
| Privilege Underwriters Reciprocal Exchange (PURE)Civil enforcement action (penalty or settlement) | United States | Insurance | OFAC (US Treasury) | $466,200 | The insurer handled four policies involving a company owned by sanctioned Viktor Vekselberg. Official source verified on November 13, 2026 |
Select a column heading to sort the table. Amounts are shown in the currency of the decision and are never converted.
Totals by year and by authority
Sums of the amounts imposed on companies in this list, by currency, never converted. Not included: breaches published without a fine, anti money laundering penalties, confiscations and amounts imposed on individuals. A total marked about or more than includes an amount that the source gives as approximate or as a minimum.
By year
| Year | Cases | Total |
|---|---|---|
| 2024 | 1 | $178,421 |
| 2023 | 1 | $466,200 |
By authority
| Authority | Cases | Total |
|---|---|---|
| OFAC (US Treasury) | 2 | $644,621 |
Frequently asked questions
Have companies in this sector been fined for sanctions violations?
This page lists 2 published cases. The largest amounts are: Privilege Underwriters Reciprocal Exchange (PURE) (OFAC (US Treasury), December 21, 2023): $466,200; American Life Insurance Company (MetLife) (OFAC (US Treasury), November 14, 2024): $178,421. No insurer fined in the UK or the EU was found.
Can a company be fined without knowing that the counterparty was sanctioned?
In the United States and in the United Kingdom, yes, for civil penalties. OFAC states that a US person may be held civilly liable even without having knowledge or reason to know of the violation; BIS civil liability is also strict; since 15 June 2022 OFSI no longer has to prove that a person knew or had reasonable cause to suspect. In the EU the directive requires intent, and serious negligence is enough for military and dual-use goods. In Canada a wilful violation is required. Example from this list: Pegasus Worldwide Logistics (OFAC, 9 October 2026) arranged a shipment of equipment from a sanctioned Chinese supplier without noticing, because of gaps in its checks.
Unicorn Intelligence is your corporate compliance officer: it checks all your customers and suppliers every day against sanctions lists and the other official lists, with the source and date of every item.
Check all your customers and suppliers for free
Upload your list and see in a few minutes how many names have sanctions, lawsuits, insolvency or other risks. Monitoring shows which ones, every day.
List not exhaustive, based on public official sources. Date of the last verification: November 13, 2026.
Unicorn Intelligence is an information tool: decisions and legal obligations remain with your company.