AIG expected to pay $1 billion-plus to settle probes

Article Abstract:

The possibility that insurance company, American International Group Inc., may be seeking to pay a $1 billion settlement to civil-fraud investigations being conducted by state and federal authorities is discussed. The insurer and its former chief executive, Maurice R. Greenberg, allegedly misled regulators and investors by using improper accounting practices and misrepresenting financial results.

Management dynamics, New York, Legal/Government Regulation, Capital funds & cash flow, Investor Relations, Finance & Stockholder Relations, Stockholder Relations, Cases, Accounting and auditing, Practice, Corporations, United States. Securities and Exchange Commission, Corporate corruption, Spitzer, Eliot, Insurance executives, Greenberg, Hank (American chief executive officer)

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AIG taps Citigroup veteran for chairman post

Article Abstract:

Robert Willumstad, former president of Citigroup Inc., has been appointed chair of insurance company American International Group Inc. This appointment, following the previous appointment of CEO Martin Sullivan, marks a change in governance for AIG, with the top position split into two separate jobs.

Willumstad, Robert

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Marsh's new sheriff brings a long legal pedigree

Article Abstract:

Michael G. Cherkasky is appointed Chief Executive Officer at Marsh & McLennan Companies Inc. in wake of insurance commission fees investigation by Attorney General Eliot Spitzer.

Evaluation, Marsh & McLennan Companies Inc., Cherkasky, Michael G.

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