Evan Greenberg’s Vision: Highlights from the Chubb CEO’s Shareholder Letter Featured in Interview with Fortune

On March 16, 2026, Evan G. Greenberg, Chubb Chairman and CEO, delivered a wide-ranging, 25-page annual shareholder letter, offering both a look at Chubb’s record financial performance and insights on some of the most pressing issues facing business, society and global prosperity. 

Fortune Executive Editorial Director Diane Brady spotlighted Greenberg’s influential shareholder letter in a notable feature and sit-down interview.

According to Brady: “In the canon of great shareholder letters, I would add the prose of Evan Greenberg, the chairman and CEO of Chubb Group. He has amassed quite a following and body of work in more than two decades at the helm (first of ACE Ltd, which later became Chubb after he acquired the insurer in 2016). He’s since built Chubb into one of the world’s most valuable property and casualty insurers, with a $126.5 billion market cap.” 

Below find the key takeaways from Greenberg’s letter and his interview with Fortune:

• Read the full 2025 Chubb Shareholder Letter

• Read the Fortune feature by Diane Brady

Greenberg’s annual letters have become required reading for investors and business leaders. Each year, he spends months refining the letter. “It’s personal to me,” Greenberg shared with Fortune. “It reads as I speak, as I think … The subjects I pick are relevant to Chubb.” This authenticity and strategic clarity are key reasons his letters garner attention beyond the insurance industry.

Chubb achieved record core operating income—just shy of $10 billion for 2025—driven by strong results across property and casualty underwriting, investment management, and life insurance. Tangible book value per share grew 25.7% last year, capping a 74% rise over three years. Chubb’s global scale continues to expand, with $66 billion in gross premiums across 54 countries and territories.

Managing risk is Chubb’s core strength. The company’s discipline, growing only when risk-adjusted returns are sufficient, and willing to shrink where they are not, has allowed Chubb to outperform peers and preserve financial strength across market cycles.

Greenberg reflected on Chubb’s culture of authenticity and meritocracy through the company’s commitment to supporting employees through change, community engagement, and partnerships like the “Blue Boundaries” initiative with the National Geographic Society. 

Greenberg told Fortune: “It’s an honor and a privilege to have my role, and it’s my responsibility to account to my shareholders every year for the company that they have invested in, and to explain it and to illuminate beyond the numbers … Chubb is my second greatest love. It’s all wrapped up in that when I write this letter. Every word matters to me.”

Both the shareholder letter and Fortune featured Greenberg’s nuanced observations on a shifting global order. He describes an accelerating move away from the U.S.-led postwar system toward a multipolar world, urging pragmatic engagement and cooperation, especially with China, which he calls “the most important relationship in the world.”

After a recent 10-day visit to China, Greenberg told Fortune: “I went to five different cities, to see new tech companies … the humility, the work ethic, the drive to innovate and create and succeed. They want to bring what they’re doing to America. Cooperation and engagement don’t mean surrender. It doesn’t mean you’re weak. The United States has so many advantages over China. Where we’re fearful is because of their scale, their size and their capability. I deeply admire the Chinese culture. I deeply admire the people. I’ll bet on them all day long. That’s different than the politics and the political construct of the country.”

Greenberg dedicated a section of both his letter and interview to the state of American democracy, telling Fortune “Democracy is so fragile. Civil society is a participant sport. We are all members… I’m so sick of the dark side we find ourselves in—right and left—where we feed on the notion of denigrating who we are.” He encouraged business and political leaders to resist polarization, speak up for core values, and support the institutions that underpin democratic governance.

A critical challenge highlighted is the skyrocketing cost of litigation in America. Greenberg points to the legal system as a “tax on society,” with liability insurance costs rising 7-9% annually—multiples above inflation. The proliferation of litigation finance, class actions, and inventive legal strategies is making products and services less affordable for businesses and households alike.

Chubb’s digital transformation is intensifying, with enterprise-wide investments in technology, AI, and data now translating into tangible gains. Greenberg told Fortune: “The good that [AI] can do in medicine and science, the potential it unlocks, is breathtaking. Technology is evolving but human nature has not evolved ... We’re just as tribal, just as prejudiced as human beings as we’ve ever been, and we’re handing ourselves this powerful tool. We don’t even quite understand it yet, so I am both optimistic and I’m concerned.” Chubb continues to blend advanced technology with disciplined underwriting and human expertise—believing that, especially in insurance, trust and a human touch remain essential.