Liddy’s relations with Congress and federal regulators was testy. He was twice grilled by lawmakers over bonuses paid during his tenure. Benmosche said he would leave working with Congress to Golub, the former CEO of American Express Inc., while he focused on operations and decided which units to keep.

Golub “is going to run interference for me in Washington because, I’ve got to tell you, I can’t be running the business here and dealing with all those crazies down in Washington,” Benmosche said on Aug. 11, 2009, adding, “actually, they’re not. They’re very nice, sophisticated people. Vote for them. Please. And give them your money.”

Benmosche also criticized then-New York Attorney General Andrew Cuomo on Aug. 11, 2009, over Cuomo’s handling of a bonus probe of the company, saying he “doesn’t deserve to be in government.” AIG issued an apology on Benmosche’s behalf and said that the executive was responding to workers’ concern about harassment amid the bonus furor.

Welcomes Regulators

Over time, Benmosche shifted his stance toward federal regulators. In 2012, Benmosche said AIG wouldn’t contest a designation as a systemically important financial institution, subjecting it to extra oversight.

“In fact, we welcome supervision by the Federal Reserve,” he said in a letter to regulators.

Golub, who joined AIG in 2009, weeks before Benmosche became CEO, resigned as chairman on July 14, 2010. Benmosche often clashed with Golub and pushed for his ouster after feuding with him over the stalled divestiture of AIA Group Ltd., AIG’s main Asia division.

Golub was succeeded by Miller, an AIG director who became the company’s sixth chairman since 2005. Miller oversaw the bankruptcy of auto-parts supplier Delphi Corp. and helped Chrysler Corp. return to profitability.

Benmosche’s strategy was to delay asset sales until higher prices could be garnered, telling employees he was “appalled” at pressure from U.S. regulators to liquidate the company.

Asset Sales