Insight and Intelligence on the Global Facultative Markets

5 February 2012

AIG D&O insurers reach $90mn settlement

27 August 2010

Another chapter in the substantial book of US-led litigation in relation to former American International Group (AIG) CEO Maurice Hank Greenberg and his old company was settled this week with those on the Directors' & Officers' (D&O) programme agreeing a $90mn settlement.

The long-running derivatives action, originally brought in 2005 by investors, claimed that 20 AIG senior executives, including Hank Greenberg, had exercised poor oversight of the company.

The suit alleges that the executives, including Greenberg, former Vice Chairman Edward...

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