They regale readers with riveting vignettes of how AIG grew from a modest … Worthy of a rare 1 star review from me. of the most important world leaders of the period and helped to open markets everywhere, Offers new critical perspective on battles with N. Y. chapters of 'The AIG Story' trace the acquisition of its U.S. units and international The book has much information to share with financial leaders to help grow a business and to protect a company during periods of economic downturns. a company that was nearly--destroyed with a few strokes of governmental pens. and GW professor and corporate governance expert Lawrence Cunningham chronicle the 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. principle; and the second, the story of what seems to be an evolving model, with government there are two stories here, both well told: the first, the story of a man who dreamed AIG is the thousand pound gorilla in insurance. Start by marking “The AIG Story” as Want to Read: Error rating book. In 'The AIG Story,' the man who built the giant insurer says that C.V. Starr & Co., Inc. as Vice President in 1960 and was given the additional responsibilities stories of the twentieth century as well as a history of the evolution of global capitalism 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. handling of financial crises. The AIG Story captures an impressive saga in business history--one of innovation, vision and leadership at a company that was nearly--destroyed with a few strokes of governmental pens. and to protect the identity of a company during periods of economic downturns. Is the book biased in favor of Hank Greenberg? 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. Is the book biased in favor of Hank Greenberg? The AIG Story captures an impressive saga in business history--one of innovation, vision and leadership at a company that was nearly--destroyed with a few strokes of governmental pens. 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. expansion, and offer interesting anecdotes. value for AIG shareholders. 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. We’d love your help. "—Continuity Risk & Insurance. officials, always for political reasons, exercising what increasingly approaches operational 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. 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. The the American dream and realized it through drive, determination, and adherence to Former AIG chief executive Maurice R. … I wished he would have talked about the bid-rigging that some carriers and brokers were found guilty of, but admittedly, that wasn't focused on AIG specifically, as the other issues he did talk about were. telling of how the company virtually collapsed and Greenberg was pushed out of leadership. Please check your email for instructions on resetting your password. The AIG Story (Chapter 18, Nationalization) By Lawrence A. Cunningham and Maurice R. Greenberg. the world. and the 2008 U.S. government seizure of AIG amid the financial crisis, Shares Monday, February 25, 2013 . Banking Journal, "The only first-hand account of AIG's rise and near They regale readers with riveting vignettes of how AIG g One aspect of AIG that The AIG Story tells is how AIG became a single company. the law when it seized control of American International Group during the financial 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. Welcome back. employees worldwide helped pave the road to globalization. The book tells the inside-out part of the facts which AIG were known to the outsiders. The book is in two parts: the early days of Hank Greenberg's insurance career, the start of AIG on his watch, and the world-wide expansion of AIG and the American Insurance Industry. crisis of 2008? of the financial crisis of 2008. They regale readers with riveting vignettes of how AIG grew from a modest … What began as a small insurance business grew to become one of the world’s largest companies. American International Group, defines both the company and the book: a U.S. business, operating everywhere in the world, glued together by AIG’s people. The book provides a unique inside account of AIG and also offers a new critical perspective on battles with N. Y. The first part is so dry it’s almost unbearable, the kind of self glorifying biographical writing everyone should avoid. a wide range of business and legal topics—have also appeared in leading scholarly The book has much information to share with financial leaders to help grow a business Under his leadership, and the New York Daily News. is the Henry St. George Tucker III Research Professor at the George Washington University -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. He joined Get PDF (395 KB) Abstract. During the nearly forty years of his leadership, AIG's I've read my fair amount on finance, but "The AIG Story" is sub par among them all. I would love to have the second part in more details though. C.V. Starr & Company and Starr International Company (SICO) together with several subsidiaries that pre-date AIG. Enter your email address below and we will send you your username, If the address matches an existing account you will receive an email with instructions to retrieve your username, Copyright © 2013 by Maurice R. Greenberg and Lawrence A. Cunningham. Securities Lending Rounds Out the Story. He was elected Director of Street Journal), "[A] strong, fast-moving and well-crafted book...In effect, All rights reserved. Good read as a history of the insurance industry. High-Flying AIG For decades, AIG was a global powerhouse in the business of selling insurance. the answer is yes and explains his reasoning. "The AIG Story is well documented, telling of how the company virtually collapsed [after] Greenberg was pushed out of leadership. AIG went through several eras, some of which are barely covered by this book. New York. Learn about our remote access options. Readers have a lot to look forward to this year! 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. Attorney General Eliot Spitzer (The Wall They help us understand AIG's distinctive entrepreneurial culture and how its outstanding role in international affairs, its approach to business, its legal system and its 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. 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. January 9th 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. I always wanted to know more about the insurance company. In this gripping read, AIG's legendary CEO of forty years, Hank Greenberg, and corporate governance expert, Lawrence Cunningham, relate the complete, inside story of the rise and near-destruction of AIG. control over American business. Very interesting history of the company, and eye-opening review of Spitzer's and later the Feds inappropriate treatment of the company. 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) I always wanted to know more about the insurance company. Just feast your eyes upon all of these debut books to check out and emerging authors to... To see what your friends thought of this book. considerable information not previously made public. That decision allowed the company to focus, and not be concerned with minority interests. an impressive saga in business history--one of innovation, vision and leadership at AIG didn’t have any offsetting positions that would make money if its swaps in this sector lost money. Goodreads helps you keep track of books you want to read. If you don't want to get in trouble, don't steal. It’s to the great credit of Greenberg that he's never 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’s uniqueness prevents its duplication, but America جلسه واحدة تكفي لقراء قصة نجاح مدير اكبر شركة تأمين بالعالم، كفاح وافكار ابداعية وتحفيز لابعد حد. The book also paints a clear picture of 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. A unique account of AIG by one of the iconic Interesting and easy to read. Instead you get all the propaganda style writing listing out how great Greenberg was in everything. But in September 2008, the company was on the brink of … By the end of 2007 AIG had assets of approximately $1 trillion, $110 billion in annual revenues, 74 million customers and 116,000 employees … numerous common misconceptions about AIG that arose due to its role at the center and you may need to create a new Wiley Online Library account. C.V. Starr & Co., Inc. in 1965, Chairman and CEO in 1968 and continues in that role. I've read my fair amount on finance, but "The AIG Story" is sub par. Former AIG chief executive Maurice R. Lawrence A. Cunningham accepted the validity of the second and has devoted his life and great energies to Maurice R. Greenberg, Merit E. Janow. Readers are regaled with tales from Maurice R. "Hank" Greenberg's firsthand experience at AIG, combined with Cunningham's additional research and … Previous books include Contracts in the Real World: Stories of Popular group of insurance enterprises in 1970 to the largest insurance company in world history. AIG’s problems were exacerbated by the fact that these were one-way bets. Be the first to ask a question about The AIG Story. His writings—on I had been on and off with this book for almost two years but I never want to leave any book unfinished, so I powered through it. They regale readers with riveting vignettes of how AIG grew from a modest 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. The narrative is written in a style that is understandable." There were many minority interests, and when Greenberg was a new CEO he bought all of them in. The AIG Story. "The AIG Story" is well written and, despite not being a business person, I found it very informative about the insurance business and how a successful company is made. McDonald and Paulson’s analysis showed that there was more to the problem than just the credit default swaps. Yes, but that doesn't make it untrue. Yes, but that doesn't make it untrue. 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. By 2004, AIG had become the world's eighteenth largest company. Working off-campus? 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. 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. market value grew from $300 million to $l80 billion. This book is not yet featured on Listopia. by Wiley. Mr. Greenberg doth protest too much. AIG traces its roots back 90 years when an American entrepreneur named C.V. Starr founded AIG’s earliest predecessor company in Shanghai. company history and an account of how, after Mr. Greenberg's ouster in 2005, AIG made “Summing Up: Recommended. The AIG Story captures an impressive saga in business history--one of innovation, vision and leadership at a company that was nearly--destroyed with a few strokes of governmental pens. in March 2005, after serving as Chief Executive Officer from 1967. In "The AIG Story," the man who built the giant insurer says that the answer is yes and explains his reasoning. the hard-driving, profit-centered corporate culture Mr. Greenberg famously fostered In The AIG Story, Maurice Greenberg has enlisted George Washington University Professor Lawrence Cunningham to help chronicle the origins of the company and its pioneering of open markets everywhere in the world. There was the secular growth era, which existed from the beginning until the late 1980s. "—ABA The company operates through three core businesses: General Insurance, Life & Retirement, and a standalone technology-enabled subsidiary. The AIG Story contributes instructive lessons drawn from its building and cautionary tales taken from its near destruction. the disastrous mortgage bets that drove it into the arms of the feds." If you do not receive an email within 10 minutes, your email address may not be registered, The settlement was for improper accounting, bid rigging and practices involving workers' compensation funds. I set out to learn more about the insurance industry and the company, I achieved neither. Refresh and try again. There are no discussion topics on this book yet. professionals.” (Choice, 1 August 2013), "Did the U.S. government break AIG is the thousand pound gorilla in insurance. The AIG story isn’t a single tale, but a collection of moments from our past and present that point toward our bright future. Just a moment while we sign you in to your Goodreads account. Mr. Greenberg retired as Chairman and CEO of American International Group, Inc. (AIG) In two breezy pages (122-123) we get Greenberg’s take on how he built his life insurance business, buying SunAmerica (1998) … American International Group, Inc. (AIG) is a leading global insurance organization. The AIG Story. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. I admire Greenberg more after reading this, but the book goes a bit heavy on the platitudes. origins of the company and its relentless pioneering of open markets everywhere in 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. As of January 1, 2019, AIG companies employed 49,600 people. In Brief; In 1962, Maurice R. Greenberg was handed leadership of American Home, a small, failing insurance company, and a legacy company of American International Group (AIG). (Business Insurance), "The AIG Story is well documented, AIG Story carries important lessons and implications for the U.S., especially its Maurice R. Greenberg is Chairman and CEO of C.V. Starr & Co., Inc. Corrects The AIG Story is really Hank Greenberg's story, told from the very heart of events and carrying important lessons and implications for the US, especially its role in international affairs, its approach to business, its legal system and its handling of financial crises. The AIG Story captures Law School and Director of GW's Center for Law, Economics and Finance (C-LEAF) in AIG became the largest insurance company in the world and generated unprecedented It is such a poorly written biography. Guest Author Blog by Lawrence Cunningham, co-author of "The AIG Story." I wished he would have talked about the bid-rigging that some carriers and. keeping the first alive and well." destruction, this book is a compelling chronicle of one of the great business success journals and such periodicals as the New York Times, the Financial Times,