Greenberg: AIG to Be More Volatile (AIG)

Maurice “Hank” Greenberg, former CEO of AIG, recently appeared Bloomberg Television's "InBusiness with Margaret Brennan," where he spoke about AIG's decision to sell Nan Shan Life Insurance, as well as his belief that AIG's business will be more volatile in coming years. When asked if AIG AIG received a good price for Nan Shan Life, Mr. Greenberg said, “There is no question they will be paying back taxpayers… An adequate price? I have not seen the financials in a long time.” He added, "It's the third largest life company in Taiwan, could be the largest. And do I think it was a great thing to do? No." Mr. Greenberg also laid out a scenario for AIG being more volatile in the future, saying, “Property casualty business is a strong business, and it's global. The property casualty business in the United States today is under great pressure, rates have been going down for five years. That is a tough business to be in. One reason the life business was so great, it was able to offset the cycles that take place in the property business - that diversification. When you reduce diversification, you increase volatility. So, AIG will have a more volatile business going forward."