US Top Insurance Giant Entangled in China Ties

Evan Greenberg and his father Maurice Greenberg have longstanding connections with China.

Published: 10/10/2025, 3:51:43 PM EDT

US Top Insurance Giant Entangled in China Ties — Evan Greenberg, chairman and CEO of Chubb Ltd, is seen on a live-streaming 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/AFP via Getty Images)

Insurance giant Chubb Limited and its CEO Evan Greenberg are in hot water, accused of maintaining "deep ties" to the Chinese Communist Party (CCP).

This allegation was launched by Consumers’ Research, a leading nonprofit organization. The seven-figure campaign includes a website Chinachubb.com, a mobile billboard that will circulate throughout Washington, D.C.—including Capitol Hill and Chubb’s Washington office—and national 30-second television advertisements that will begin airing across the country.

Chubb Limited is the world’s leading insurer, 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.

Consumers’ Research accuses Chubb of prioritizing CCP-linked business and progressive policies over American interests. In the video advertisement, it 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.”

This has sparked backlash, with equally strident responses the other way. A Chubb spokesperson called the campaign "completely dishonest" in a statement to NTD.

"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," the spokesperson said.

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

Robert O’Brien, former national security adviser to President Donald Trump, also disagreed with the campaign.

"I’ve worked with Evan Greenberg for several years now on American relations with China," O’Brien said. "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," Fox News reported.

'Old Friend'

As an influential business figure, Greenberg has met repeatedly with Chinese leaders, including Xi Jinping. He also holds leadership roles at the U.S.-China Business Council (former chair) and the National Committee on U.S.-China Relations (executive vice chair).

In March last year, amid China's economic challenges and ongoing foreign capital withdrawal, Xi met over a dozen American business leaders and scholars. From the photos, Evan Greenberg stood immediately to Xi's right-hand side, walking together in the front row of the group.

Greenberg 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 the university’s dialogue event, themed “Global Challenges and Financial Industry Development Prospects from the Perspective of U.S.-China Relations,” and interacted with over 100 students.

According to Chinese media, he 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 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."

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

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 him with the China Reform Friendship award, one of only ten foreign recipients of this honor.

For years, the CCP has strategically leveraged 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 Greenberg.