Former AIG Insurance Exec’s build another Insurance Company

By | October 28, 2009

This is interesting, apparently the former head cheese at AIG Maurice Greenburg started a new Insurance conglomerate and is hiring away a bunch of the top talent at AIG.  AIG has some caps apparently in place due to the bailout money that was provided, so this new company is hiring some of the top talent for I would imagine higher pay. I would have hoped that some of the former exec’s would feel some sort of opportunity to help rebuild AIG and repay the money but hey what do you do, you can read the article below.

Greenberg builds second insurance giant – UPI.com

Maurice Greenberg, former chairman and chief executive officer of AIG, ousted during an accounting scandal in 2005, lost much of his fortune when AIG collapsed and was bailed out by the federal government last fall, The New York Times reported Tuesday.

Starr Indemnity & Liability Co. hired former AIG executives Charles Dangelo, Jim Vendetti and Alex Pittignano, the Times said.
C.V. Starr, with no pay cap, could quickly undermine AIG’s talent pool.

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