Maurice R. Greenberg

Maurice R. "Hank" Greenberg is an American business executive and philanthropist, best known for his long tenure as chairman and CEO of American International Group (AIG), transforming it into one of the world’s largest insurance companies. Below is a detailed overview of his life, career, and relevance to the Center for the National Interest, based on available information.

Early Life and Education

Born: May 4, 1925, in New York City, to Jacob Greenberg and Ada Rheingold.

Military Service: Served in the U.S. Army during World War II, participating in the D-Day invasion and the liberation of the Dachau concentration camp. He later served in the Korean War, rising to the rank of captain and earning a Bronze Star.

Education: Earned a pre-law degree from the University of Miami (1948) and a law degree (LLB) from New York Law School (1950). Admitted to the New York Bar in 1953.

Career at AIG

Joining AIG: Greenberg joined the Continental Casualty Company in 1952, then moved to AIG in 1960, recruited by founder Cornelius Vander Starr. He became president of AIG’s American Home Assurance Company in 1962.

Leadership: Named CEO of AIG in 1967 after Starr’s death, and chairman in 1988. Under his leadership, AIG grew from a modest firm to a global insurance giant, operating in 130 countries with a market capitalization of $180 billion by 2005.

Innovations: Pioneered new insurance products, expanded into emerging markets like China (securing the first foreign insurance license in 1992), and diversified AIG’s portfolio into financial services.

Resignation: Forced to resign as chairman and CEO in March 2005 amid investigations by New York Attorney General Eliot Spitzer into accounting irregularities, including a $500 million balance sheet manipulation involving General Re. Greenberg was named in a civil fraud lawsuit but settled in 2017 without admitting liability, paying $9.9 million. A 2016 ruling also found he did not personally profit from the fraud.

Post-AIG Ventures

C.V. Starr & Co.: After leaving AIG, Greenberg became chairman and CEO of C.V. Starr & Co., a private insurance and investment firm, where he remains active. The Starr Companies reported $5.9 billion in assets by 2019.

Starr Insurance Holdings: Leads this global insurance and investment organization, focusing on property, casualty, and specialty insurance.

Legal Battles: Sued AIG for $25 billion in 2011, alleging mismanagement post-2008 bailout, and pursued a class-action lawsuit against the U.S. government over AIG’s bailout terms, which was dismissed in 2017.

Philanthropy and Starr Foundation

Starr Foundation: As chairman, Greenberg oversees one of the largest private foundations in the U.S., with $1.3 billion in assets (2023). It funds education, healthcare, arts, and public policy, including: $100 million to Weill Cornell Medical College for cardiovascular research (2006).

$25 million to the National September 11 Memorial & Museum.

Support for the Asia Society, Council on Foreign Relations, and Lincoln Center.

Personal Contributions: Donated $10 million to establish the Maurice R. Greenberg Center for Geoeconomic Studies at the Council on Foreign Relations and endowed the Greenberg Center for Judaic Studies at the University of Hartford.

Role at the Center for the National Interest Chairman Emeritus: Greenberg serves as Chairman Emeritus of the Center for the National Interest (CFTNI), a realist foreign policy think tank. He was previously chairman, playing a key role in its activities and funding.

Influence: His involvement aligns with CFTNI’s focus on U.S.-China relations and global economic security, reflecting his expertise in international markets. The Center’s Maurice R. Greenberg Center for Geoeconomic Studies, named after him, underscores his financial and intellectual contributions.

Funding: While specific donations from Greenberg to CFTNI are not detailed in the provided sources, his wealth (net worth $3.5 billion in 2018, per Forbes) and philanthropy suggest potential support, possibly through the Starr Foundation, which funds similar policy organizations.

Other Affiliations and Influence

Council on Foreign Relations: Former chairman and life member, shaping U.S. foreign policy debates.

Asia Society: Longtime trustee, promoting U.S.-Asia relations.

Trilateral Commission and Bilderberg Meetings: Regular participant, indicating his influence in global elite networks.

China Connections: Known for deep ties to China, receiving the “Marco Polo Award” in 1997 and advising Chinese leaders like Zhu Rongji. AIG’s early entry into China was facilitated by Greenberg’s relationships, though he faced scrutiny for supporting China’s WTO entry, which some argued harmed U.S. manufacturing (per X posts).

Controversies

AIG Scandal: The 2005 accounting scandal tarnished Greenberg’s reputation, though he avoided criminal charges. Critics on X allege he exemplifies corporate greed, pointing to AIG’s role in the 2008 financial crisis.

China Ties: Some X posts criticize Greenberg’s pro-China stance, claiming it prioritized personal gain over U.S. interests, though these are opinions, not verified evidence.

Political Influence: As a major Republican donor, Greenberg supported figures like George W. Bush, but his bipartisan engagements (e.g., advising Bill Clinton on trade) show a pragmatic approach.

Personal Life

Family: Married to Corinne Phyllis Zuckerman since 1950, with four children: Jeffrey, Evan (former CEO of ACE Limited), Scott, and Cathleen. All are involved in insurance or finance.

Residence: Primarily in New York City, with homes in Florida and elsewhere.

Recognition: Received honors like the Bronze Star, Légion d’Honneur, and Singapore’s Distinguished Service Award. Named “Insurance Leader of the Year” by St. John’s University (2019).

Relevance to Center for the National Interest Greenberg’s role at CFTNI reflects his broader influence in global finance and foreign policy. His expertise in U.S.-China economic relations and geoeconomic strategy aligns with the Center’s mission to promote realist policies. His philanthropy, possibly via the Starr Foundation, likely supports CFTNI’s programs, though exact contributions are undisclosed. His leadership helped elevate the Center’s profile, particularly through initiatives like the Greenberg Center for Geoeconomic Studies.

Conclusion

Maurice R. Greenberg is a towering figure in global insurance and philanthropy, with a complex legacy shaped by AIG’s growth, the 2005 scandal, and his extensive international ties, particularly with China. As Chairman Emeritus of the Center for the National Interest, he contributes strategic vision and likely financial support, reinforcing the Center’s focus on pragmatic foreign policy. For more details, see CFTNI’s website (https://cftni.org/) or the Starr Foundation (https://starrfoundation.org/). References Wikipedia. (2025, May 25). Maurice R. Greenberg. https://en.wikipedia.org/wiki/Maurice_R._Greenberg

Center for the National Interest. (2023). Board of Directors. https://cftni.org/about/

Starr Foundation. (2023). Annual Report. https://starrfoundation.org/

InfluenceWatch. (2025). Maurice R. Greenberg. https://www.influencewatch.org/

@someuser . (2023, X post). [Sentiment on Greenberg’s China ties, not cited as fact].