Star Foundation
Left to right: Stephen Shore, Maurice R Greenberg, Richard Phillips
ATLANTA, April 13, 2023 (GLOBE NEWSWIRE) — The University System of Georgia Board of Regents has approved the renaming of Georgia State University’s Department of Risk Management and Insurance as the Morris R Greenberg School of Risk Science. The name change recognizes a $15 million gift from The Starr Foundation that will significantly expand and enhance Georgia State University’s risk education programs and elevate the program’s reputation worldwide. Morris R. Greenberg is Chairman of the Board of Directors of Star Corporation and Chairman and CEO of Star Insurance Companies.
The transformational gift is the largest in the history of the J. Mack Robinson College of Business at Georgia State. It will be used for:
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Create an honors scholarship to recruit promising scholars from across the United States
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Develop a certificate program for non-risk science students
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Create a new physical space to house the Risk Science Unit
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Recruit additional talented faculty and staff for the unit’s programmes
“We are grateful to the Starr Foundation for its investment in one of the university’s best-performing and best-known departments,” said President M. Brian Blake when the gift was announced on January 24. “This gift secures our risk management and insurance. The programs will continue to produce amazing graduates and outstanding research, all while honoring a legendary insurance executive.”
The Starr Foundation was founded in 1955 by Cornelius Vander Starr, an insurance entrepreneur who founded CV Starr & Co. and other international insurance companies. Mr. Starr named Mr. Greenberg as his successor in 1968. In 1969, Mr. Greenberg formed American International Group, Inc. (AIG) from several of Starr’s underwriters and went public. He served as Chairman and CEO of AIG until March 2005. Under nearly 40 years of leadership, AIG has grown from an initial market capitalization of US$300 million to US$180 billion, becoming the world’s largest insurance company.
With Mr. Greenberg as its president, the Starr Foundation has provided more than $4.0 billion in grants to numerous academic, medical, cultural, and public policy organizations around the world.
The commercial insurance industry – a driving force of the global economy – must be committed to attracting and nurturing the best and brightest young leaders. Mr. Greenberg said helping the state of Georgia continue to build one of the best insurance programs in the country will ensure that this happens.
“The Starr Foundation is honored to provide scholarship support to Georgia State students at a pivotal time in their lives,” said Florence A. Davis, President of the Starr Foundation.
The Morris R Greenberg College of Risk Science at Georgia State has been a leader in risk and insurance education and research for nearly 70 years. Initially created as an insurance department, its undergraduate program currently ranks fourth in the country, according to U.S. News & World Report, and the Morris R. Greenberg Risk Science is ranked #3 for actuarial science research productivity among all business schools in North America.
“Our focus on new technology and how we respond to an ever-changing industry has made us a national leader in the study of risk,” said Richard Phillips, dean of Robinson College. “Switching to the Morris R. Greenberg School of Risk Science will allow us to broaden the types of questions our researchers can tackle that relate to complex risk challenges.”
Stephen Shore, who leads the Morris R. Greenberg Risk Sciences. “We are excited to prepare students for successful careers in high-demand, risk-related fields on a scale we could only have dreamed of before, and we are deeply grateful for the support of Mr. Greenberg and the Starr Foundation.”
To learn more about the Maurice R Greenberg School of Risk Science at the J. Mack Robinson School of Business at Georgia State University, visit https://robinson.gsu.edu/risk-science.
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CONTACT: Jenifer Shockley J. Mack Robinson College of Business 404-413-7078 [email protected]
