BestWeek: As AIG Leader Steps Down, Industry Looks at What's Next.

OLDWICK, N.J. -- The March 21 issue of BestWeek explores the problems that forced the ouster of Maurice R. "Hank" Greenberg from the top post at American International Group Inc. -- the world's largest insurer -- and what his departure means for AIG's future.

Greenberg's exit, the accession of Martin J. Sullivan to chief executive officer, and ongoing investigations of some AIG business practices all raise questions about where the company, which has a market capitalization of $163.5 billion, is heading.

A former AIG executive tells BestWeek in an exclusive interview that the deep bench of good executives at the company means the one at the top can set the tone for management, but he doesn't have to run everything.

BestWeek is published by A.M. Best Co. for insurance professionals, including home office executives, agents and brokers.

To track the history of AIG, BestWeek features a timeline of events, starting with the launch of C.V. Starr, whose agency interests were developed into AIG in China in 1919, and ending with Greenberg stepping down.

Also, senior associate editor David Pilla explains how 2005 may be a good year for mopping up excess capital and cashing in on investments as the global property/casualty industry slips into a softening market.

Despite U.S. and Bermuda-domiciled insurers raising $12.2 billion in the capital markets in 2004, down from $19.1 billion in 2003, insurers last year didn't need to raise as much, he writes.

In addition, BestWeek looks at how competitive intelligence is used by the industry. One expert warns of roadblocks ahead stemming from the cost of complying with the Sarbanes-Oxley Act.

As the act kicks in and the costs associated with being public go through the roof, it will get harder to use public, open sources to monitor the activities of publicly held competitors, the expert said.

Also, Beth Riczko, president of insurance operations at Ohio Casualty, tells BestWeek exclusively about her role in the turnaround of the property/casualty company, which went from a combined ratio of 119.1 in 2000 to 98.4 in 2004 -- the lowest it's had since 1980.

Riczko said when President and CEO Dan Carmichael arrived in 2001, he successfully shifted the company's focus to the independent agent.

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A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com.