As Chairman and Chief Executive of American International Group, Maurice "Hank" Greenberg has played a dominant role in establishing recognition for insurance in the international arena. He was an early and vigorous proponent of the concept that services, such as insurance, are an integral part of international commerce and, therefore, should be integrated into international institutions and rules governing international commerce.
He has long promoted greater interest within the United States government in advancing the well being of the United States’ insurance sector overseas and has been advisor to all U. S. presidents and policy leaders on the subject of insurance.
In an effort to give the insurance industry a clear and significant voice in its presentation to government, Mr. Greenberg founded the Coalition of Service Industries in 1982. The concept provided to be so effective that similar organizations were formed to represent other sectors of the economy in ten counties, including the United States and Japan.
He has been the industry’s leading voice to strengthen the financial structure of the insurance business at home and abroad. He has been a vigorous spokesman for preserving the insurance industry’s capital through creative and profitable underwriting. He has been an advocate for more effective relationship between the insurance industry and government and has campaigned for changes in the U. S. system in a variety of areas.
As head of AIG, the largest company in the world by market capitalization, he has developed innovative ways of doing business with non-market economies, where insurance was once a state-owned function, such as in the Peoples’ Republic of China, Hungary, Romania and Poland.
Through his many affiliations, board memberships, speeches and writing, Mr. Greenberg has been the most visible insurance leader of the second half of the 20th Century. He has gained recognition, respect and influence around the world promoting the benefits of a strong life insurance industry to any economy and particularly in developing countries.