Video and a transcript of a lengthy interview with former American International Group Inc. (AIG) CEO & Chairman Maurice (“Hank”) Greenberg that was released last week to BestWeek subscribers is now available to the public at:http://www.bestweek.com or http://www.ambest.com/multimedia/greenberg08.html.
In the seven-page interview, Greenberg critiques the government’s efforts to bail out the giant insurer, which he headed until 3-1/2 years ago. Greenberg is not shy about criticizing the government’s efforts or how the international insurance giant has fared since he left.
“If I had thought and my colleagues thought that AIG would ever sell anywhere close to where it is now we’d have sold all the stock. AIG was the strongest insurance company in history, not just now but in history,” Greenberg says in the six-part video. “To believe that that company could confront the kind of financial disaster that took place and drove the stock down to where it is, is just mind boggling.”
Greenberg also opines on compensation, whether current leaders are able to oversee an organization of the complexity and nature of AIG, and his hopes to possibly acquire business units of the multiline insurer.
Also in BestWeek:
-- is an in-depth look at how newly elected members of the next U.S. Congress could change the shape of the insurance regulatory and legislative landscape.
The Europe edition of BestWeek examines how problems in the U.K.’s mortgage market are hurting life insurers in that market.
BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe, visit http://www.ambest.com/sales/BestWeek, or e-mail your request to customer_service@ambest.com.
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