Evan G. Greenberg

Evan G. Greenberg
Born	(1955-04-01) April 1, 1955
Occupation	Corporate executive
Known for	Chairman and CEO of Chubb Limited

Evan G. Greenberg (born April 1, 1955) is a prominent American corporate leader, currently holding the positions of chairman and CEO at Chubb Limited, an insurance firm headquartered in Zürich that was previously known as ACE Limited.

Early life and education

Greenberg is the son of Corinne Phyllis Zuckerman and Maurice R. Greenberg, who formerly served as chairman and CEO of American International Group (AIG). He is also the younger sibling of Jeffrey W. Greenberg, who once led Marsh & McLennan as CEO.

Upon completing high school at age 17, Greenberg took on various jobs across the United States, including roles such as a cook in a nursing facility and a bartender. He subsequently enrolled at both New York University and the College of Insurance but did not obtain a degree from either institution.

Early career and AIG

Greenberg began his professional journey in insurance in 1975 at New Hampshire Insurance Co., focusing on automobile insurance policies. Later that same year, he joined AIG as an underwriter. Over a 25-year tenure with AIG, he advanced to senior leadership positions, overseeing operations in Japan and Korea from 1991 to 1994, followed by managing the company’s international property-casualty division based in New York. Elevated to president and COO in 1997, he was considered the likely successor to AIG’s CEO but departed in 2000 to dedicate more time to his family. Following the impact of the September 11 attacks on the insurance industry, Greenberg accepted an invitation from ACE CEO Brian Duperreault to join ACE.

ACE/Chubb

In November 2001, Greenberg became part of ACE to lead its international operations. He advanced to president and COO by June 2003, assumed the CEO role in May 2004, and became chairman in May 2007. Under his leadership, ACE expanded both organically and through acquisitions, completing 15 transactions by 2015. In July of that year, Greenberg orchestrated ACE’s $28.3 billion acquisition of Chubb, marking the largest merger in property and casualty insurance history. Despite sustaining a horse-riding injury during negotiations, he successfully managed the transaction, which concluded in January 2016. Following the merger, ACE adopted the Chubb name worldwide, with Greenberg continuing as chairman and CEO.

By 2021, under Greenberg’s guidance, Chubb had grown into the second-largest publicly traded insurer in the United States and ranked as the largest non-health insurer by market capitalization. He pursued additional growth through a series of three acquisition offers for The Hartford in 2021; after these were declined, Chubb discontinued its pursuit.

Greenberg has focused on expanding Chubb’s footprint in Asia, notably increasing its stake in China’s Huatai Insurance after regulatory reforms permitted majority ownership in 2019; Chubb gained control by 2022. In addition, he led Chubb’s purchase of Cigna Group’s Asian health and accident insurance operations in 2021.

In 2023, Greenberg earned compensation totaling $27.7 million at Chubb, with a CEO-to-median employee pay ratio of 452-to-1. His remuneration increased to $30.1 million in 2024.

Political and financial positions, board roles

During the financial crisis of 2008, Greenberg opposed government-funded bailouts for insurers. Serving as chairman of the American Insurance Association at that time, he noted that most members were against including property and casualty insurers in federal rescue initiatives.

In February 2011, Greenberg was appointed to The Coca-Cola Company’s board of directors but resigned in January 2016 to concentrate on his responsibilities at Chubb.

He has voiced criticism against protectionist trade measures and supported international trade agreements favorable to U.S. interests such as the North American Free Trade Agreement. Amidst the COVID-19 pandemic, Greenberg advocated for a collaborative public-private approach to pandemic risk management and provided testimony before the U.S. Senate endorsing such initiatives.

Greenberg has championed enhanced business and diplomatic engagement between the United States and China. He holds membership and previously chaired the US-China Business Council, while also serving as executive vice chair on the board of the National Committee on United States-China Relations.

In March 2024, Greenberg publicly justified Chubb’s provision of a $91.6 million appeal bond for former President Donald Trump in the civil lawsuit E. Jean Carroll v. Donald J. Trump, underscoring the company’s impartial stance. Appointed by Trump in 2018, Greenberg served on the Advisory Committee for Trade Policy and Negotiations until stepping down in March 2023.