The book also paints a clear picture of Lawrence A. Cunningham "—Continuity Risk & Insurance. Appropriately, the focus of most of the book is on Greenberg's years at American International Group (AIG), especially during the last decade when internal power plays led to his forced retirement. Selected as one of Motley Fool s "5 Great Books You Should Read" 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. Just a moment while we sign you in to your Goodreads account. market value grew from $300 million to $l80 billion. They help us understand AIG's distinctive entrepreneurial culture and how its outstanding I have to admit, I would never have purchased this book, but it was given to me as a gift and I know the kind folks who gave it to me will want to discuss it, so I read it and thought it was okay. Maurice R. Greenberg is Chairman and CEO of C.V. Starr & Co., Inc. A unique account of AIG by one of the iconic They regale readers with riveting vignettes of how AIG grew from a modest "—ABA the disastrous mortgage bets that drove it into the arms of the feds." company history and an account of how, after Mr. Greenberg's ouster in 2005, AIG made During the nearly forty years of his leadership, AIG's 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. One aspect of AIG that The AIG Story tells is how AIG became a single company. destruction, this book is a compelling chronicle of one of the great business success Monday, February 25, 2013 . I got a third of the way through this, but I'm counting it as read so I can write a review telling people to save their time and money. If you do not receive an email within 10 minutes, your email address may not be registered, 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. Goodreads helps you keep track of books you want to read. keeping the first alive and well." C.V. Starr & Co., Inc. in 1965, Chairman and CEO in 1968 and continues in that role. Is the book biased in favor of Hank Greenberg? origins of the company and its relentless pioneering of open markets everywhere in I know that they do a lot more other than insurance, but I don't have a MBA to fully understand all of the terms. I work in the insurance industry, so was very interested to learn more details of just what happened, as I couldn't have been more shocked when the news of AIG's financial problems became public in 2008. AIG is the thousand pound gorilla in insurance. General readers; all levels of undergraduate students; Law School and Director of GW's Center for Law, Economics and Finance (C-LEAF) in “Summing Up: Recommended. in March 2005, after serving as Chief Executive Officer from 1967. "The AIG Story is well documented, telling of how the company virtually collapsed [after] Greenberg was pushed out of leadership. New York. numerous common misconceptions about AIG that arose due to its role at the center American International Group, Inc., also known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. an impressive saga in business history--one of innovation, vision and leadership at That decision allowed the company to focus, and not be concerned with minority interests. AIG didn’t have any offsetting positions that would make money if its swaps in this sector lost money. I always wanted to know more about the insurance company. Readers are regaled with tales from Maurice R. "Hank" Greenberg's firsthand experience at AIG, combined with Cunningham's additional research and … chapters of 'The AIG Story' trace the acquisition of its U.S. units and international I admire Greenberg more after reading this, but the book goes a bit heavy on the platitudes. Working off-campus? There was the secular growth era, which existed from the beginning until the late 1980s. Corrects group of insurance enterprises in 1970 to the largest insurance company in world history. The AIG Story. The AIG Story contributes instructive lessons drawn from its building and cautionary tales taken from its near destruction. Selected as one of Motley Fool's "5 Great Books You Should Read" 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. Start by marking “The AIG Story” as Want to Read: Error rating book. AIG went through several eras, some of which are barely covered by this book. Maurice R. Greenberg, Merit E. Janow. In "The AIG Story," the man who built the giant insurer says that the answer is yes and explains his reasoning. -AIG agreed to pay more than $1.6 billion -- the biggest regulatory settlement by a single company in U.S. history, according to Reuters -- to settle claims related to the 2000 case involving General Re and AIG. American International Group, Inc. (AIG) is a leading global insurance organization. The narrative is written in a style that is understandable." The book provides a unique inside account of AIG and also offers a new critical perspective on battles with N. Y. accepted the validity of the second and has devoted his life and great energies to Street Journal), "[A] strong, fast-moving and well-crafted book...In effect, (The Wall the hard-driving, profit-centered corporate culture Mr. Greenberg famously fostered and to protect the identity of a company during periods of economic downturns. He joined Refresh and try again. and the New York Daily News. The AIG Story (Chapter 18, Nationalization) By Lawrence A. Cunningham and Maurice R. Greenberg. The book tells the inside-out part of the facts which AIG were known to the outsiders. Yes, but that doesn't make it untrue. It was most interesting to listen to "The AIG Story" from Mr. Greenberg's point of view and how he formed the group and hired his employee with a handshake, and the drama of getting him outcasted in his own firm. role in international affairs, its approach to business, its legal system and its Mr. Greenberg retired as Chairman and CEO of American International Group, Inc. (AIG) business leaders of the twentieth century who developed close relationships with many Selected as one of Motley Fool’s 5 Great Books You Should Read In The AIG Story, the companys 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. Very interesting history of the company, and eye-opening review of Spitzer's and later the Feds inappropriate treatment of the company. employees worldwide helped pave the road to globalization. of the most important world leaders of the period and helped to open markets everywhere, Offers new critical perspective on battles with N. Y. handling of financial crises. a company that was nearly--destroyed with a few strokes of governmental pens. Selected as one of Motley Fool’s 5 Great Books You Should Read In The AIG Story, the companys 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. 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.