Accuses former chairman and ex-CFO of improper accounting moves
American International Group Inc. (AIG) has sued former chairman Maurice "Hank" Greenberg and ex-chief financial officer Howard Smith for more than $1bn (£505m).
According to reports, the AIG suit accused Greenberg and Smith, of improper moves, which resulted in:
• The financial restatement.
• An expensive internal investigation.
• Payment of $800m to settle a Securities and Exchange Commission civil action.
• $25m to resolve U.S. Department of Justice claims.
• $100m to settle claims by New York authorities.
The suit was originally filed in Delaware.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
