NU Online News Service, April 30, 2003, 10:22 a.m. EDT — New York
Maurice "Hank" Greenberg, chairman of American International Group Inc., New York, told insurance analysts here that he believes one of the greatest legacies he will leave AIG will be the company's expanded presence in China.
The Chinese operations will be important to helping AIG meet its earnings targets, Greenberg said at a financial services conference organized by the New York office of UBS Warburg.
"Right now," he said, "we have all the business we can handle in the parts of China we want to be in."
Although AIG is starting in the eastern, coastal areas of China, the company does want more of a presence in western China, Greenberg said.
Severe acute respiratory syndrome has scared some executives away from Asia, but Greenberg said the SARS outbreak might help life insurance sales.