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N.Y. regulator subpoenas insurance broker over Trump Organization dealings

By Suzanne Barlyn

March 5 (Reuters) - New York State's financial regulator has subpoenaed the insurance broker for President Donald Trump's family business, a person familiar with the matter said on Tuesday, after former Trump lawyer Michael Cohen told Congress the president inflated the value of assets to insurers.

The New York State Department of Financial Services issued the subpoena late Monday to Aon Plc, a global insurance broker and risk management firm that works for the Trump Organization, said the person, who was not authorized to publicly discuss the matter.

The subpoena, which does not suggest that Aon or its employees engaged in wrongdoing, demands materials about Aon's dealings with Trump and the Trump Organization dating to 2009, the person said.

Aon spokeswoman Donna Mirandola confirmed that the company received a subpoena from the regulator. "We intend to cooperate with all regulatory bodies," Mirandola said in an email. "We do not comment on specific client matters."

Trump Organization spokeswoman Amanda Miller did not immediately respond to a request for a comment.

The subpoena follows testimony by Cohen. In response to questioning on Feb. 27, Cohen answered "yes" when asked by a member of a U.S. congressional committee if Trump had inflated the value of assets to insurers.

Cohen did not name Aon in his testimony.

The New York State Department of Financial Services (NYDFS) regulates banking, insurance and other financial institutions.

It is considered the most powerful U.S. state banking regulator because of its authority over numerous foreign banks that have branches in the state. The regulator has civil, not criminal, authority, but can refer suspected wrongdoing to state and federal prosecutors.

Among the materials the nine-page subpoena requests from Aon are copies of all communications between Aon, Trump and the Trump Organization, internal documents related to Trump and the company, and details about compensation for current and previous Aon employees who worked on the Trump Organization account, the person said.

The New York Times reported the subpoena earlier on Tuesday. (Reporting by Suzanne BarlynEditing by Noeleen Walder and Cynthia Osterman)