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Article: Rising Starr: C.V. Starr & Co. Inc. agencies vow to succeed without the help of--and in competition with--AIG.(Agent/Broker: Business Development,American International Group Inc.,CVS Corp.)
- Article from:
- Best's Review
- Article date:
- July 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 A.M. Best Company, 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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Not too long ago, American International Group viewed the managing general agencies run by C.V. Starr & Co. Inc., specialists in hard-to-place commercial coverages, as an indispensable part of its business.
The world's largest and arguably most sophisticated insurer resisted pressure from certain shareholders to separate from the Starr agencies, insisting that in spite of its size, the corporation lacked the capability to perform many of the services provided by Starr's managing general agents.
Bernd Heinze, executive director of the American Association of Managing General Agents, who was hired by AIG's board to review the corporation's relationship ...