AIG Says Greenberg's Private Firm Stole Its Business

Law360, New York (January 30, 2006, 12:00 AM EST) -- The battle between insurance giant American International Group and ex-chairman Maurice Greenberg is getting nastier by the day, with AIG accusing one of the former executive’s private firms of sealing secret pacts with Warren Buffett’s Berkshire Hathaway in a bid to hijack AIG’s business.

The motion, filed Friday in New York State Supreme Court, alleges that Starr Technical Risks Agency, a unit of Greenberg's C.V. Starr that has sold insurance in AIG's name since 1992, entered into unauthorized reinsurance arrangements with Berkshire Hathaway. The arrangements siphon...
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