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Article: Greenberg out as AIG chief.(News)(American International Group Inc.)(Maurice R. Greenberg )
- Article from:
- Business Insurance
- Article date:
- March 21, 2005
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JUDY GREENWALD
NEW YORK-When-or even if-the other shoe will drop ultimately will determine how American International Group Inc. recovers from the ousting of long-time Chief Executive Officer Maurice R. Greenberg last week.
If the finite risk deal with General Reinsurance Corp. that apparently led to Mr. Greenberg's departure and to the delay in AIG filing its annual financial statement is an isolated incident, then AIG should recover quickly and maintain its position as the world's leading commercial insurer, observers say.
But if more revelations over AIG's use of arcane reinsurance structures emerge as targets of investigations by ...