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A Property/Casualty insurer uses these rates, which are different from those that rating bureaus suggest, as the insurer considers that these rates are more reflective of its experience.
Insurance Industry News from ProgramBusiness.comHank Gifts Wife
Reuters has reported that former American International Group Inc. (AIG.N:) Chief Executive Maurice "Hank" Greenberg gave his wife more than $2 billion worth of AIG shares three days before he stepped down last month. The transfer of the insurance company's shares was recorded in a document filed by AIG with the U.S. Securities and Exchange Commission. According to the document, known as a Form 4, Greenberg's transfer of shares to his wife Corinne "represents a gift of 41.399 million shares." The document says the transfer occurred on March 11.
An AIG spokesman declined to comment on the stock transfer and Greenberg's attorney, David Boies, was not immediately available for comment..
According to Reuters data, Greenberg owned about 43.55 million shares of AIG.
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