Hubei Governor Mr. Wang Guosheng (7th L ) and  Mr. Maurice. R. Greeberg, the Honorary President of YRIC (6th L)

The fearless man

At 17 years old, Mr. Maurice. R. Greeberg, the Honorary President of YRIC participated in the US Army. In 1952, he retired as the captain. When looking for a job in the streets of New York, he rushed directly to the deputy general manager’s office because the personnel manager at Continental Insurance Company had ignored him. His fearless momentum made him get the insurance trainee position. Mr. Maurice. R. Greeberg began his insurance business ever since. 

 It was also the fearless momentum to encourage Mr. Maurice. R. Greeberg to quit the previous job and work for AIG. In 1960, AIG gave Mr. Greenberg a favorable offer to ask him to create a new global accident and health insurance business. Mr. Greenberg made up his mind to leave the seemingly powerful Continental Insurance Company.

After decades, the honorary president of YRIC, Mr. Greenberg has enjoyed the reputation in the industry for opening the seemingly impossible market. The original Japanese market has been expanded due to his yellow hat idea. The insurance company logo was printed on school children's yellow hats. Thus, the policy has promoted the hat sales and the insurance company logo on the hat has also raised parents' awareness of insurance. The Japanese market has gradually been opened.  

Mr. Greenberg is also fearless to protect the interests of his company. In 1972, the new Prime Minister of Pakistan Benazir Bhutto announced all insurance companies to be nationalized including AIG, but he did not give any compensation. AIG repeated fruitless negotiations. After more than a month, Bhutto visited the United States to promote Pakistan's policy to attract foreign investment. Just when Bhutto gave speeches, Mr. Greenberg walked to the podium. After introducing his identity, Mr. Greenberg said:” Your country has recently nationalized my company, but we have not received any compensation." He has also pointed out his own plan to share this information with the US business community after the Q & A session. Soon, the Pakistani government paid compensation.

The video speech of  Mr. Maurice. R. Greeberg, the honorary President of YRIC

Friendship for long term business

Mr. Greenberg has a special feeling to China. He wrote that AIG is a Chinese "child" on the first page of his new book. For this, he explained that the AIG founder Mr. Starr established an insurance company in China early in 1919 and AIG is rooted in China. During the War, Starr’s enterprise was confiscated by Japanese, but the loyal Chinese employees tried hard to protect the company's important documents, and restored the company after the war in a short time. Mr. Starr is always grateful for China, and he has vigorously cultivated many Chinese talents. In 2011, a leader from Shanghai and his delegation visited the United States, Mr. Greenberg had specially arranged Chinese guests to stay in the Mr. Starr master bedroom at More Far manor.

When Mr. Greenberg, the Honorary President of YRIC firstly visited China, he signed a reinsurance agreement with China which was  the beginning of the Sino-US Insurance Cooperation. He also tasted Maotai which was described as “smells like Air Force One jet fuel, and tastes a little better“ by New York Times. Mr. Greenberg often got drunk with his Chinese counterparts. In fact, Mr. Greenberg rarely drinks. After his helm of AIG, he has made strict regulations to forbidden drinking at lunch, as drinking will affect their judgment. Certainly, he does not drink as he says:"I will not ask anyone to do anything that I would not do." But in China, he broke his own rules.

Mr. Maurice. R. Greeberg, the Honorary President of YRIC meets Mr. Liu Memg, Executive President of YRIC 

Mr. Greenberg is willing to follow Chinese rules. In 1990s, when Mr. Zhu Rongji served as the mayor of Shanghai, Mr. Greenberg was pleased to serve as the first chairman for the creation of the International Business Leaders Advisory Council. Since 1990, the organization has made numerous contributions to the development of Shanghai. Mr. Greenberg comes to China more frequently than ever and even jokes that if he could choose the life again, he is willing to live in China. Later, many more multinational companies have entered the Chinese market, but their CEOs rarely like Mr. Greenberg to personally meet with Chinese officials and corporate executives. Mr. Greenberg knows the Chinese government like to exchange directly with leaders in foreign companies and sending others for the meetings are unqualified.

Mr. Greenberg told reporters doing business in China would take time. “ I came to China in 1975, but I got the insurance license until 1992." In fact, in 1991, Mr. Zhu Rongji had endowed AIG insurance license as a pilot, but the business was limited only in Shanghai. In August 1992, the Premier Li Peng visited New York, Mr. Greenberg seized the chance of five minutes to meet with Premier Li Peng. They had exchanged for 45 minutes. He ensured Premier Li Peng that his life insurance was a long term business and he would not take any dividend from China at least in 10 years. These conditions have persuaded Premier Li Peng, as "the long-term perspective" is what China values. On the September of that year, AIG received a formal license.

Mr. Greenberg once said:” If we only do businesses with like-minded countries, the countries where we could conduct our overseas businesses are very limited."  In the process of China's WTO accession and the US-China economic and trade development, Mr. Greenberg persuaded the US government to hold a open attitude to embrace China. In 1999, the Premier Zhu Rongji visited the United States and  the US President Bill Clinton held a dinner at the White House. President Bill Clinton introduced Mr. Greenberg to Premier Zhu Rongji. Premier Zhu Rongji said:” I know Hank". Hank is Mr. Greenberg’s nickname. Premier Zhu Rongji also hugged this old friend. In recent years, chaired by Mr. Greenberg, Starr Foundation has donated more than 250 million US dollars of properties to China far more than its insurance profit in China.

Mr. Maurice. R. Greeberg, the Honorary President of YRIC

The Tough Man

Mr. Greenberg told reporters, a good company needs to attract those who are interested in the establishment of a great enterprise, as well as those who have the sense of innovation, passion and efficiency. He is exactly that type pf man. As early as 1952, Mr. Greenberg purchased the company's first executive jet in order to improve travel efficiency. However, his aircraft selection criteria is endurance and speed with no requirement for comfort. When he travels, he is always accompanied by his wife Corinna. During the long journey, they often squeeze  in the "bed" made up by two seats. When they fly to Asia through Alaska, they often stay overnight in the Sun and Rain Inn at Cold Bay. Alaska is known for its solitude and the pupuation for polar bears and humans are quite similar.

In the aspect of talent employment, Mr. Maurice. R. Greeberg care more about results. The family and social background is not important. At the same time, he invests much on the staff training. The AIG executives and even he personally made graphic presentations and demos for the staff training. Mr. Greenberg told reporters: "In the overseas market, you must recruit talents who are familiar with the local culture and make sure your products to meet local needs." He has a special overseas team. The team members have rich experiences. Some of them are rude , while some are quite smart. However, all of them are equipped with special skills of a master to help AIG to open up overseas markets. For employees, he is known for his strict requirements. Many executives have the military origin emphasizing the organizational discipline and loyalty which has become the AIG culture. Once the leaders have made a decision, very few people would have discussions in private. Mr. Greenberg regularly held the meetings with executives. Generally, these meetings only last a few minutes. They could offer advises on certain progresses and share their ideas. These meetings are held to demonstrate his control of all the circumstances, and show his personally working attitude. Employees can not be sloppy as well. He is also very concerned about the staffs. Mr. Greenberg would provide all kinds of help for his staffs.  

The aged Mr. Greenberg is always full of energy in the whole interview. He sleeps at 22:00 and gets up at 6:00 in the morning. Every week, he works for seventy or eighty hours. He travels around the whole world at half time of the year. Sometimes, he only sleeps four or five hours, he would get up to work. To keep healthy, he loves to do exercises.  Once at a cocktail party, Matthew, CEO of Starr Investment Group said:. "Greenberg is deeply involved in a variety of physical exercises including running and skiing. " This serious attitude to every thing enables this tough man to achieve a legendary life.