Maurice “Hank” Greenberg, who built AIG into an insurance powerhouse, bought medical claims processor MultiPlan for $4.4 billion from Silver Lake and BC Partners. His firm Starr Investment Holdings led the acquisition, along with Partners Group.
Greenberg, 88, resigned under pressure from AIG in 2005, following an accounting scandal, then watched the company implode in 2008 over mortgage debt. Since then, he has been running Starr Companies, which collected $2.7 billion in gross premiums in 2012 from property casualty to aviation and construction insurance. MultiPlan is its first major foray into health care.