US Insurance Giant Called Out for Its Ties to CCP

The allegations were made by Consumers’ Research, which launched a massive media campaign.

Evan Greenberg, chairman and chief executive officer of Chubb Ltd., on a livestreaming screen as he speaks at the economic summit held for the China Development Forum at the Diaoyutai State Guesthouse in Beijing on March 24, 2024. Parker Song/Pool/AFP via Getty Images

Insurance giant Chubb Limited and its CEO Evan Greenberg have been accused of maintaining “deep ties” to the Chinese Communist Party (CCP) by nonprofit organization Consumers’ Research, which launched a massive media campaign. Consumers’ Research accuses Chubb of prioritizing CCP-linked business and progressive policies over American interests.

The seven-figure campaign, which links to the group’s Chinachubb.com website, includes a mobile billboard that will circulate throughout the District of Columbia—including Capitol Hill and Chubb’s Washington office—and national 30-second television advertisements that will begin airing across the country.

In its video, Consumers’ Research says: “While U.S. leaders warn of China’s growing threat, Chubb is investing more, standing closer, and tied tighter to China. Your friends show who you really are.”

Chubb Limited is one of the world’s largest insurers, with operations spanning 54 countries. In China, it holds an 85.5 percent stake in Huatai Insurance Group (acquired in 2022) and maintains a strategic partnership with the state-owned PICC Property & Casualty Company.

The ad campaign has sparked backlash and a Chubb spokesperson called the campaign “completely dishonest.”

“Evan has called out China’s authoritarian approach and predatory practices. He has repeatedly called for the U.S. to stand up and defend its interests,” a spokesperson said in a statement to NTD, The Epoch Times’ sister media.

In Chubb’s 2023 annual report, Greenberg highlights the CCP’s increasing authoritarianism at home and aggression abroad, including military friction in the Taiwan Strait and the South China Sea, as well as its “no-limits” partnership with Russia.

“We view China as an increasing threat to our interests and values, as well as those of our allies and partners,” he said.

Robert O’Brien, who served as national security adviser to President Donald Trump during Trump’s first term in office, also disagreed with the campaign.

“I’ve worked with Evan Greenberg for several years now on American relations with China,” O’Brien told Fox. “In my dealings with Evan, he has been a proponent of U.S. interests in the region. Through its operations in China, his company has contributed to shrinking the U.S. trade deficit.”

‘Old Friend’

As an influential business figure, Greenberg has met repeatedly with Chinese leaders, including current CCP leader Xi Jinping.

Greenberg also holds leadership roles at several organizations, including the National Committee on U.S.–China Relations, where he serves as executive vice chair, according to its website. He is a former chairman of the board at the U.S.–China Business Council and a member of the Council on Foreign Relations.

Greenberg also serves on the advisory board of Tsinghua University’s School of Public Policy and Management, which has alleged military ties. On Sept. 23, 2024, he participated in a university event themed “Global Challenges and Financial Industry Development Prospects from the Perspective of U.S.-China Relations.”

According to China-based media, Greenberg said that the deep economic interdependence between the United States and China holds significant commercial importance for both nations, with a stable relationship serving as the cornerstone of business development.

In March last year, amid economic challenges in China, including ongoing foreign capital withdrawal, Xi met with more than a dozen American business leaders and scholars. Photos posted to social media show Greenberg immediately to Xi’s right as they walked together. Others present included Blackstone chairman and CEO Stephen Schwarzman, former Goldman Sachs senior executive John Thornton, and Harvard professor Graham Allison.

In 2022, Greenberg was appointed the honoree of the National Committee on U.S.–China Relations Annual Awards Gala for his “enormous contributions to constructive Sino–American relations.” Xi sent a letter congratulating Greenberg on receiving the award and expressed appreciation for the committee and its members’ longstanding efforts.

In his 2022 shareholder letter, Greenberg criticized U.S. efforts to “contain” China or undermine the CCP as “self-isolating,” according to Consumers’ Research.

Greenberg’s father, Maurice Greenberg, chairman of American International Group (AIG) until 2005, has received multiple awards from the CCP.

In the 1990s, when China faced repeated setbacks in its efforts to join the World Trade Organization (WTO), Maurice Greenberg lobbied the U.S. government to grant China permanent most-favored-nation status and expedite its WTO negotiations. In 2005, the CCP awarded him the Marco Polo Award, calling him an “old friend.” In 2018, Xi presented Maurice Greenberg with the China Reform Friendship award, one of only 10 foreign recipients to receive the honor.

For years, the CCP has utilized Wall Street executives to influence White House policies. In 2022, days before the Xi–Biden summit, Beijing sent a delegation of senior policy advisors and business executives to New York to meet with a group of American counterparts organized by Evan Greenberg.

From NTD News