The latest development in the efforts to save one-time industry giant AIG is the appointment of former MetLife CEO Robert Benmosche as AIG's new chief executive. Check out all of Insurance & Technology's coverage of the AIG restructuring saga.
Robert Benmosche, right, replaces outgoing CEO Edward Liddy
It's hard to believe that in September it will have been a year since exposure to credit default swaps felled AIG and forced its then-management to turn to the government for as much as $180 billion in bail-out funds. Over the course of the past 11 months the once-dominant global carrier has installed new management, sold off businesses, restructured and has been excoriated by a variety of pundits and politicians (including Barack Obama) for questionable business practices and extravagant executive bonuses. The latest twist in the saga of AIG's efforts to survive in some form came this week when former MetLife CEO Robert Benmosche, who retired in 2006 with plans to live in Dubrovnik and cultivate vineyards, was named CEO, replacing
former Allstate CEO Edward Liddy, who assumed the CEO role shortly after AIG imploded in September 2008. Insurance & Technology has been tracking the story, as well as providing insight into the various players who are involved -- check out our coverage here:
AIG in Transition
Edward Liddy and AIG
Benmosche's Leadership