Governance critics worry that CEO Hank Greenberg's involvement in two private companies that have substantial dealings with AIG poses a conflict of interestC.V. STARRBackground Formerly money-losing insurance agencies when AIG went public in 1969.Business Purpose Underwrites specialty insurance and owns AIG stock.Relationship to AIG AIG paid $77 million in commissions to Starr last year--36% of Starr's gross revenues.CEO Hank Greenberg.CEO Pay Undisclosed.Board Among 14 directors are Greenberg and six other insiders on AIG board.Ownership Greenberg owns 21.7%; 70 other AIG officers and retirees own rest.STARR INTERNATIONAL (SICO)Background Officers of AIG contributed $110 million in AIG stock from the IPO to create a pool to compensate top AIG employees. Pool is now worth more than $20 billion.Business Purpose Funnels incentive rewards to 600 top executives at AIG
outside the purview of AIG's compensation committee. Also owns golf course and real estate.Relationship to AIG SICO gave AIG's top five execs bonuses worth more than $55 million in 2000.Chairman Hank Greenberg.Chairman Pay Undisclosed.Board Among 15 directors are Greenberg and six insiders on AIG's board.Ownership Greenberg owns 8.3% of voting shares, 11 other AIG officers and retirees own rest.
Data: Company reports