AIG Gains on Speculation Greenberg May Help Insurer

American International Group Inc., the insurer bailed out by the U.S., gained in New York trading on speculation the company may benefit from improved relations with former Chief Executive Officer Maurice “Hank” Greenberg.

Robert Benmosche, named this month as the New York-based insurer’s fifth CEO in four years, told Reuters he contacted Greenberg after taking the job. Greenberg led AIG for almost four decades, building the company into the world’s largest insurer, before being forced out in 2005.

“I want to get the benefit of his criticisms or his support,” Benmosche said, according to Reuters, which cited an interview with the executive in Croatia where he has a home. “The world may choose to vilify him. I think of him as having had some problems, but he can help us with the solutions.”

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- Posted: 2009-08-27 10:38:48

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