Posted On: February 11, 2009, 11:38 pm CST

Posted By: 21st Employee in Texas

First off, I will have to say that the former 21st was the greatest company ever. AIG did not buy us out, they just took the remainding shares of our company for our CASH assests prior to them asking for the bailout. We owned everything, not leased and had a heavy renewal rate from our customers. We had a lot of cash reserves which AIG used and burned through once they acquired us. We were their last chance before they had to ask for a bailout.

We have customers that have been with us 10+ years, along with our employees who the average tenure is about 10 years, whereas; the average customer of AIG remained for no more than 2 renewals (1year) along with their employees who has an average tenure of only 2 years.

AIG is mismanaged and not very knowledgeable when it comes to claims, customers, and service.

Please note, that we were not up for sale when we were bought, we were taken over! 21st was a growing and profitable company and we were a very happy company prior to AIG taking us over. In fact we had grown to insure more than 68% of the market in the US on our own and not by acquiring other companies. We were named in the top 20 most trusted companies for 6 years in a row. Never did AIG make that list.