Maurice Greenberg, American International Group's former chief executive officer, has called on AIG management to seek funds from the federal relief program while it continues to rework its debt through additional borrowing.

A filing with the Securities and Exchange Commission disclosed that Mr. Greenberg wrote AIG CEO Edward Liddy, urging him to take advantage of the federal Troubled Assets Relief Program to find better credit terms and avoid a forced fire sale of company assets.

Mr. Greenberg–still a major AIG stockholder who is now CEO of C.V. Starr, once a close affiliate of AIG–painted a bleak picture of the company that, he said, is having trouble keeping accounts and is losing employees.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.