EVAN G. GREENBERG
Chairman and CEO
CHUBB LTD/CHUBB GROUP
No M&A activity in the insurance industry attracted more attention in 2015 than the mammoth deal announced on 1 July under which Swiss giant, ACE Ltd, acquired The Chubb Corporation. On completion of the transaction on 14 January, it was announced that ACE had paid approximately US$29.5bn (A$41.99bn) in cash and stock, making it the biggest ever acquisition for the insurance industry in the US. The combined entity is now to be known by the Chubb name and, according to a statement, is the world’s largest publicly-traded property and casualty insurer, operates in 54 countries and territories including Australia, and has US$150bn (A$213.55bn) in assets and achieved US$37bn (A$52.68bn) in GWP in 2014. It’s expected ACE and Chubb in Australia will commence operations together on 31 March. With its new size and scale, what can the new Chubb achieve? Will Greenberg and his leadership team (including
John French as head of Australia and New Zealand) work to substantially increase the organisation’s local profile and market share?
