Greenberg Forum Snub Called ?Rude'

By Daniel Hays

NU Online News Service, Feb. 19, 12:19 p.m.EST?An abrupt decision by American International GroupChairman Maurice Greenberg to cancel a scheduled appearance beforethe worldwide forum of a Bermuda insurance organization hasapparently caused something of an international flap.

"We were absolutely shocked. It was rude," said Suzie Pewter,project coordinator for the Bermuda Insurance Symposium V WorldInsurance Forum meeting this week in Southampton Bermuda.

A spokesperson for Mr. Greenberg said AIG's chief executiveofficer had been ailing, but Ms. Pewter said she heardotherwise.

Mr. Greenberg had been listed as the opening keynote speaker forthe four-day conference of senior insurance reinsurance andfinancial executives that charges a $1,300 per person attendancefee, exclusive of the $200-a-night room charge at the FairmontSouthampton Princess Hotel.

Besides Mr. Greenberg, the program lists appearances by chiefexecutive officers from such industry leaders as Lloyd's of London,General Re, CNA, XL Capital Ltd., ACE Limited, SCOR, and ArchReinsurance Ltd.

The symposium, late Friday, put out an announcement that in Mr.Greenberg's place Thomas R. Tizzio, the senior vice chairman of AIGwould appear to give the talk at tomorrow's breakfast session.

Ms. Pewter indicated Mr. Tizzio was supplied after the groupindicated its upset over Mr. Greenberg's decision.

She said the symposium was "very upset" because Mr. Greenberg isknown to have the ear of President Bush and there were many of Mr.Greenberg's "clients here all waiting to hear from him."

Ms. Pewter said she had learned through independent sources thatMr. Greenberg's was in good health and was traveling. She said sheunderstood now that cancellations of this sort by Mr. Greenberg are"a common occurrence" with him.

An AIG spokesperson, Ned Burke said, "Mr. Greenberg is gettingover the flu." Asked if Mr. Greenberg was traveling, Mr. Burke saidhe did not know.

On Feb. 11, Mr. Greenberg was not present for an AIG conferencecall with analysts. Officials said then that he had the flu. Whenthis prompted questions about a succession plan for Mr. Greenberg,who is in his seventies, analysts were reminded that his malady was"only the flu."

The World Insurance Forum will apparently have one Greenberg onhand, Jeff Greenberg, chairman and CEO of Marsh & McLennanCompanies Inc., the AIG chairman's son, is due to appear at amarket leaders round table discussion of major industry issues.

Also slated to speak is Ellen Seidman a former special assistantfor economic policy for President Clinton and chairman of theWorking Group on Natural Disaster Insurance.