An allegedly fraudulent $500 million reinsurance deal struck in 2000 between American International Group Inc. and General Reinsurance Corp. took center stage at the trial of Maurice “Hank” Greenberg on Tuesday, as the former billionaire CEO curtly answered questions on the witness stand while trying to distance himself from the transaction.
“I would not say I was not interested,” Greenberg, 91, testified at one point, while answering a New York prosecutor’s questions about what he knew and understood about the complex balance sheet transaction. He added, “My role was not to do an analysis, my role was to see if Gen Re would do a portfolio [with AIG]. Others [at AIG] would do that” analysis.
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