Evan G. Greenberg is Chairman and Chief Executive Officer of Chubb Limited and Chubb Group. Prior to ACE’s acquisition of Chubb in January 2016, Mr. Greenberg was Chairman and Chief Executive Officer of ACE Limited and ACE Group. He was elected President and Chief Executive Officer in May 2004 and Chairman of the Board of Directors in May 2007.
Over the course of more than 40 years in the insurance industry, Mr. Greenberg has held various underwriting and management positions and gained significant insight in the global property, casualty and life insurance sectors. Prior to joining ACE in 2001 as Vice Chairman, Mr. Greenberg spent 25 years at American International Group, where he served as President and Chief Operating Officer from 1997 to 2000. Before that, he held a variety of senior management positions, including President and Chief Executive Officer of AIU, AIG’s Foreign General Insurance organization, and Chief Executive Officer of AIG Far East, based in Japan.
Mr. Greenberg is Chair of the US-China Business Council and Vice Chair of the National Committee on United States-China Relations. He serves on the Board of Trustees of Rockefeller University, the Board of Trustees of the Center for Strategic and International Studies and the Board of Directors of the Peterson Institute for International Economics. Mr. Greenberg serves by Presidential appointment on the United States Trade Representative’s Advisory Committee for Trade Policy and Negotiations. He is a member of the Council on Foreign Relations and an overseer of the International Rescue Committee.
Chubb Corporation is the eighth largest property and casualty insurer in the United States, with over 120 offices located in 29 countries, and offers commercial, specialty, surety, and personal insurance services. As of 2015, Chubb is ranked at number 215 on the Fortune 500 list of the largest U.S. companies.
Beginning in 1970, the corporation owned The Chubb Institute, a chain of commercial technical schools which grew out of the company's employee training program, but the schools were sold to the High-Tech Institute in 2004.
In 2007, Chubb was named the Readers' Choice winner as "Best Admitted Property/Casualty Insurance Company" by Business Insurance.[1] In 2010 Chubb was number five on Chicago Business "Best Places to Work" list.[2]
In July 1, 2015, ACE Limited announced that it will acquire Chubb Corporation for $28.3 billion in cash and stock.[3] Upon completion, ACE shareholders will hold 70% while Chubb shareholders will get 30% of the new combined company. The new company will be based in Zurich where ACE Limited's headquarters is located. Evan Greenberg of ACE will be the new Chairman and CEO of the new company, while Chubb Chairman and CEO John Finnegan will be Executive Vice Chairman for North America External Affairs. The company's board will be expanded to 18 with 4 of them coming from Chubb. The new combined company will adopt the Chubb name. It is expected that the deal will close in Q1 2016, subject to approval by ACE and Chubb shareholders, and regulatory approvals.[4]Until then, Chubb and ACE will continue to operate as separate and competing companies.
