Posts Tagged ‘Greenberg’

90 and still fighting

In Insurance on 27/05/2015 at 11:48 am

This 90-yr old makes one Harry look like a wimp. At 80, he started an insurance co. and in his 80s, he sued the US govt. From NYT Dealbook:

GREENBERG STILL IN THE RING In 2005, Maurice R. Greenberg was forced to resign from American International Group under the shadow of an accounting scandal, which he is still battling in court as he gets ready to turn 90 on Monday. And Mr. Greenberg is also the driving force behind a four-year-old lawsuit claiming the federal government unconstitutionally seized A.I.G.’s assets during the financial crisis. “Few people would choose to spend their golden years surrounded by lawyers, facing subpoenas and hostile cross-examination. Yet, if anything, Mr. Greenberg seems to have been energized,” James B. Stewart writes in his Common Sense column.

Mr. Stewart recounts Mr. Greenberg’s activities in the 10 years since he resigned from A.I.G. at age 80: He helped build the privately held C. V. Starr & Company into a global insurance company with over 3,000 employees, and he is the director of the Starr Foundation, which has bestowed over $2.2 billion in grants to New York charities alone. Mr. Stewart decided to pay the former A.I.G. chief executive a visit to learn the secret of his longevity. Mr. Greenberg credited his health to good genes, plus he exercises regularly and gets adequate sleep. But what carries him through the prolonged legal battles is his desire to set the record straight, Mr. Stewart writes. “I’ve always believed that if you do something wrong, you should admit it,” he told Mr. Stewart. “But if not, you fight for what you believe in.”

“Age doesn’t matter to me,” he said. “No one is invincible, and I might not wake up tomorrow. But I don’t think about that. I’m doing what I want to do, and that’s what’s important.”