Starr Eyes Cuba Travel Insurance Market For Growth

By | February 26, 2015

Maurice “Hank” Greenberg’s Starr International Co. is pursuing growth in Cuba as the U.S. eases decades-old restrictions on visiting the country.

Starr’s travel assistance unit could provide services and insurance to clients who wish to go to Cuba, the Zug, Switzerland-based company said in a statement Wednesday.

“The challenges of doing business in Cuba are substantial,” Greenberg, 89, said in the statement. “Starr is well-positioned and prepared to leverage our relationships and global network to support our clients’ entry into this market.”

Starr cited its history in Cuba before Communist rule. The company moved its international headquarters to Havana from Shanghai in 1943 and operated there for almost 15 years, according to the statement.

Greenberg, the former chief executive officer of American International Group Inc., has been seeking to extend Starr’s geographic reach and targeted opportunities in regions including Asia. Starr in 2012 named Peter Levene, the former chairman of Lloyd’s of London, as vice chairman.

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