In The AIG Story, the company's long-term CEO Hank Greenberg (1967 to 2005) and GW professor and corporate governance expert Lawrence Cunningham chronicle the origins of the company and its relentless pioneering of open markets everywhere in the world.
They regale readers with riveting vignettes of how AIG grew from a modest group of insurance enterprises in 1970 to the largest insurance company in world history. They illustrate AIG's distinctive entrepreneurial culture and how its outstanding employees worldwide helped pave the road to globalization.
The book corrects common misconceptions about AIG that arose due to its role at the center of the financial crisis of 2008. It is a unique account of AIG by one of the iconic business leaders of the twentieth century who developed close relationships with many of the most important world leaders of the period and helped to open markets everywhere, and provides a new critical perspective on battles with N. Y. Attorney General Eliot Spitzer and the 2008 U.S. government seizure of AIG amid the financial crisis.
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The AIG Story captures an impressive saga in business history--one of innovation, vision and leadership at a company that was almost destroyed with a few strokes of governmental pens. The AIG Story carries important lessons and implications for the U.S., especially its role in international affairs, its approach to business, its legal system and its handling of financial crises.
Maurice R. Greenberg is Chairman and CEO of C.V. Starr & Co., Inc. He joined C.V. Starr & Co., Inc. as Vice President in 1960 and was given the additional responsibilities of President of American Home Assurance Company in 1962. He was elected Director of C.V. Starr & Co., Inc. in 1965, Chairman and CEO in 1968 and continues in that role. Mr. Greenberg retired as Chairman and CEO of American International Group, Inc. (AIG) in March 2005, after serving as Chief Executive Officer from 1967. Under his leadership, AIG became the largest insurance company in the world and generated unprecedented value for AIG shareholders. During the nearly forty years of his leadership, AIG's market value grew from $300m to $l80bn.
Lawrence Cunningham is the Henry St. George Tucker III Research Professor at George Washington University Law School and Director of GW's Center for Law, Economics and Finance (C-LEAF) in New York.
He is the author of numerous books including The Essays of Warren Buffett: Lessons for Corporate America, The AIG Story (written with Hank Greenberg) and Contracts in the Real World: Stories of Popular Contracts and Why They Matter. His research appears in leading university journals, including those published by Columbia, Cornell, Harvard, Michigan, Vanderbilt and Virginia; his op-eds have run in the Baltimore Sun, the Financial Times, the National Law Journal, the New York Daily News and the New York Times. On Amazon, Cunningham has been ranked one of the top 100 authors in the category of business and investing.
Cunningham is an American scholar, an author of corporate governance and investing books, and the Henry St. George Tucker III Research Professor of Law at George Washington University.