Evan G. Greenberg
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Evan G. Greenberg (born 1955) is an American business executive. He is the
chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...
and
CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...
of the
Zürich Zurich (; ) is the list of cities in Switzerland, largest city in Switzerland and the capital of the canton of Zurich. It is in north-central Switzerland, at the northwestern tip of Lake Zurich. , the municipality had 448,664 inhabitants. The ...
-based insurance company
Chubb Limited Chubb Limited is an American–Swiss company incorporated in Zürich, and listed on the New York Stock Exchange (NYSE) where it is a component of the S&P 500. Chubb is a global provider of insurance products covering property and casualty, acci ...
(formerly ACE Limited).


Early life and education

Greenberg is the son of Corinne Phyllis Zuckerman and
Maurice R. Greenberg Maurice Raymond “Hank” Greenberg (born May 4, 1925) is an American business executive and former chairman and chief executive officer of American International Group (AIG). Early life and education Greenberg was born into a Jewish family in ...
, the former chairman and CEO of
American International Group American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of 2023, AIG employed 25,200 people. The company operates through three core ...
(AIG). He is also the younger brother of Jeffrey W. Greenberg, the former CEO of
Marsh & McLennan Marsh & McLennan Companies, Inc., doing business as Marsh McLennan, is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, invest ...
. After graduating high school at 17, Greenberg traveled the country working odd jobs, including cooking at a nursing home and bartending. He later attended
New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...
and the College of Insurance but did not graduate from either.


Career


Early career and AIG

In 1975, Greenberg started working in insurance, initially working for New Hampshire Insurance Co. in its automobile policies department. He began working for AIG later that year as an underwriter. During the 25 years he worked for AIG, Greenberg held a number of senior management positions. He ran AIG's Japan and Korea operations from 1991 to 1994. He then oversaw all international property-casualty operations from AIG's New York offices. Greenberg was named president and COO in 1997 and was considered the
heir apparent An heir apparent is a person who is first in the order of succession and cannot be displaced from inheriting by the birth of another person. A person who is first in the current order of succession but could be displaced by the birth of a more e ...
to take over as CEO of AIG. Despite Greenberg being in line to take over the company, he left his position as president in September 2000. He spent a year away from work to spend time with his family. After seeing the impact of the
September 11 attacks The September 11 attacks, also known as 9/11, were four coordinated Islamist terrorist suicide attacks by al-Qaeda against the United States in 2001. Nineteen terrorists hijacked four commercial airliners, crashing the first two into ...
on the insurance industry, with insurers affected by large claims, Greenberg decided to take the opportunity to accept then-ACE CEO
Brian Duperreault Brian Charles Duperreault (born May 8, 1947) is a Bermuda-born American executive in the insurance industry. He stepped down as executive chairman of American International Group in December 2021. Duperreault's entire career has been in the ins ...
's offer to join ACE.


ACE/Chubb

Greenberg joined ACE in November 2001 to lead the company's overseas unit. In June 2003, he was promoted to president and chief operating officer, and in May 2004, was named CEO. In May 2007, he was elected Chairman of ACE. Following his promotion to CEO, Greenberg grew the company both through expansion of existing operations and through a strategy of acquisitions, acquiring 15 companies by 2015. In July 2015, Greenberg led a deal for ACE to acquire the insurance company Chubb for $28.3 billion, which was the largest merger deal in property and casualty insurance history. Shortly prior to the deal, he broke his ankle in a horse riding accident, and he worked on the merger while recovering. When the deal became official in January 2016, ACE adopted the Chubb name globally and Greenberg became chairman and CEO of Chubb. By 2021, Greenberg was credited in the media for having grown Chubb to the second-largest publicly listed insurance company in the U.S. and the largest non-injury insurer in the U.S. based on market value. As part of the acquisition plan to continue growing Chubb, he led an attempted acquisition bid for
The Hartford The Hartford Insurance Group, Inc., usually known as The Hartford, is an American investment and insurance company. The Hartford is a Fortune 500 company headquartered in its namesake city of Hartford, Connecticut. It was ranked 160th in Fortune ...
in 2021. After making three offers that were each declined, he stated that Chubb would not continue to pursue the acquisition. Following the merger, Greenberg has sought to grow Chubb's presence in Asia. He led the company's push to increase its holdings in Huatai Insurance, a China-based insurance company, by pursuing a regulatory change in China that would allow Chubb to become Huatai's majority owner. Officials passed the change in 2019 and Chubb gained majority ownership of Huatai in 2022. In 2021, he led the company's acquisition of Cigna Group's Asian businesses that focused on health and accident insurance. In 2023, Greenberg's total compensation from Chubb was $27.7 million, representing a CEO-to-median worker pay ratio of 452-to-1. In 2024, Greenberg's compensation rose to $30.1 million.


Political and financial positions, board roles

In the
2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...
, Greenberg opposed taxpayer-funded bailouts for the insurance industry. He gave a statement on behalf of the American Insurance Association as its then-chairman, noting that most of the association's members were not in favor of including property and casualty insurers in the list of companies able to make use of available federal bailout funds. In February 2011, Greenberg was named to the board of directors at
The Coca-Cola Company The Coca-Cola Company is an American multinational corporation founded in 1892. It manufactures, sells and markets soft drinks including Coca-Cola, other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. Its stock is lis ...
. He stepped down from the board position to focus on his role at Chubb in January 2016. Greenberg has criticized protectionist trade policies and spoken in favor of policies that promote global trade and U.S. interests, such as the
North American Free Trade Agreement The North American Free Trade Agreement (, TLCAN; , ALÉNA), referred to colloquially in the Anglosphere as NAFTA, ( ) was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. The ...
. During the
COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
, Greenberg called for a public-private partnership for pandemic risk, saying such a program would lessen the financial blow of a future pandemic. He testified at a July 2021 hearing of the U.S. Senate Committee on Banking, Housing and Urban Affairs, to advocate for such a program. He has also advocated for better business and political relationships between the U.S. and China. He is a member and former chairman of the
US-China Business Council The US-China Business Council (USCBC) is a 501(c)(6) nonprofit organization whose stated goal is promoting trade between the United States and the People's Republic of China (PRC). As of 2024, it comprises over 270 American companies that trade a ...
. In March 2024, Greenberg defended Chubb's decision to provide former President
Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...
a $91.6 million appeal bond for the civil case E. Jean Carroll v. Donald J. Trump in a letter to Chubb investors claiming the company doesn't "take sides." Greenberg was appointed by Trump to the Advisory Committee for Trade Policy and Negotiations in 2018, serving on the committee from then into the
Joe Biden Joseph Robinette Biden Jr. (born November 20, 1942) is an American politician who was the 46th president of the United States from 2021 to 2025. A member of the Democratic Party (United States), Democratic Party, he served as the 47th vice p ...
presidency, stepping down in March 2023. Greenberg is executive vice chair of the
National Committee on United States-China Relations National may refer to: Common uses * Nation or country ** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen Places in the United States * National, Maryland, ce ...
' board of directors and a member of the
US-China Business Council The US-China Business Council (USCBC) is a 501(c)(6) nonprofit organization whose stated goal is promoting trade between the United States and the People's Republic of China (PRC). As of 2024, it comprises over 270 American companies that trade a ...
's board of directors.


References

{{DEFAULTSORT:Greenberg, Evan G. 1955 births 20th-century American businesspeople 20th-century American Jews 21st-century American businesspeople 21st-century American Jews American businesspeople in insurance American chairpersons of corporations American chief executives of financial services companies American chief operating officers American International Group people Living people Peterson Institute for International Economics