(Bloomberg) — Evan Greenberg just took dealmaking to the next level.
The chief executive officer of property-and-casualty insurer Ace Ltd. on Wednesday announced a $28 billion deal for rival Chubb Corp. It's the biggest acquisition in the industry since the 2008 government bailout of American International Group Inc., the insurance giant formerly led by Greenberg's father, Hank.
After the busiest quarter for insurance dealmaking in at least 12 years, the magnitude of this latest takeover is going to drive even more “M&A fever” across the industry, according to Cliff Gallant of Nomura Holdings Inc. Insurers from W.R. Berkley Corp. to Hartford Financial Services Group Inc. rallied on the news amid takeover speculation.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
