Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A number of powerful players took a huge fall from grace this past year, while one iconic figure staged a major comeback in the midst of the financial meltdown that almost destroyed the biggest insurance titan of all–American International Group.

In late February, five former top executives with General Reinsurance and AIG were found guilty of 16 federal charges in a scheme to use a bogus finite reinsurance deal to help AIG falsely boost its financial standing. The biggest fish caught was Ronald Ferguson, Gen Re’s former CEO.

The other four defendants were Christopher Garand, a former Gen Re senior vice president; Robert Graham, Gen Re’s former senior vice president and counsel; Elizabeth Monrad, Gen Re’s former chief financial officer; and Christian Milton, former AIG vice president for reinsurance.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.