Chubb insurance CEO targeted in new campaign over China connections

FIRST ON FOX: Shoppers’ Analysis, a number one nonprofit group devoted to client intelligence and battling woke corporations, launched a brand new marketing campaign Thursday concentrating on insurance coverage large Chubb Restricted and its CEO Evan Greenberg, alleging “deep ties to the Chinese language Communist Celebration (CCP).”

The marketing campaign, which is dealing with pushback from a Chubb official and a pair of famend China hawks who accuse the nonprofit of misrepresenting Greenberg’s place, is a part of a seven-figure initiative titled “China Chubb.” The marketing campaign accuses the insurance coverage firm and its CEO of “cronying in with the CCP” and “utilizing their market energy and sources to push a woke, political agenda on the American folks.”

The trouble falls below Shoppers’ Analysis’s Shoppers First Initiative, geared toward exposing corporations the group claims are placing politics forward of shoppers. Chubb’s enterprise spans 54 international locations, together with China, territories and all 50 states, and employs greater than 40,000 folks worldwide.

Shoppers’ Analysis says the marketing campaign will embrace a nationwide marketing campaign 30 second television commercial titled “China Chubb”, which will likely be broadcast nationwide after launch.

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Shopper’s Analysis has launched a scathing advert concerning the connection between Chubb Insurance coverage and China. (Embassy of the Folks’s Republic of China)

The marketing campaign additionally features a new web site, ChinaChubb.com; a cellular billboard that may flow into all through Washington, DC, together with Capitol Hill and Chubb’s Washington workplace; and a focused digital push with sponsored content material on social media platforms and on-line information channels.

The advert marketing campaign obtained a pointy rebuke from a Chubb spokesperson, who known as it “fully unfair” in an announcement to Fox Information Digital.

“Evan has denounced China’s authoritarian method and predatory practices. He has repeatedly known as on the US to face up and defend its pursuits,” the spokesperson mentioned.

Robert O’Brien, former nationwide safety adviser to President Donald Trump, additionally walked again the advert in an announcement to Fox Information Digital.

“I’ve been working with Evan Greenberg on U.S. relations with China for quite a few years now,” O’Brien mentioned. “In my dealings with Evan, he has been a supporter of U.S. pursuits within the area. Via his actions in China, his firm has helped cut back the U.S. commerce deficit.”

Nevertheless, a Fox Information Digital evaluate discovered that Greenberg has private {and professional} ties to the CCP, together with assembly with Chinese language President Xi Jinping and making public statements praising the CCP’s international imaginative and prescient.

Earlier this yr, Greenberg reportedly attended China’s prestigious China Improvement Discussion board along with executives akin to Stephen Schwarzman of Blackstone and Michael Miebach of Mastercard. The annual discussion board, which attracts delegates from all over the world, additionally supplies entry to dozens of high CCP officers, based on an inventory of delegates launched earlier this yr.

The identical week, so was Greenberg depicted in a press release posted by the Chinese language authorities, the place he shakes fingers with Wang Yi, a member of the Political Bureau of the CPC Central Committee, a high place inside the CCP. The press launch paraphrased Greenberg, saying, “The U.S.-China relationship is a very powerful bilateral relationship on the planet.”

By 2024, Greenberg was photographed not simply shaking fingers with Xi in Beijing as chairman of the Nationwide Committee on US-China Relations. He additionally praised China’s “resilience and vitality.”

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Evan Greenberg shakes fingers with Chinese language President Xi (Embassy of the Folks’s Republic of China)

“China’s distinctive financial development and transformation in current many years are testomony to its sturdy resilience and vitality,” Greenberg mentioned.

In November 2023 he has Xi introduced at an occasion in San Francisco.

“Like many others on this room, I imagine {that a} sturdy and affluent China that helps and invests within the worldwide system generally is a power for good on the planet,” Greenberg mentioned on the occasion.

“We collect at present to get insights from President Xi on his imaginative and prescient for the way forward for his nation and for the connection between america and China. Girls and gents, please be a part of me in extending a heat welcome to President Xi Jinping.”

That very same month, Evan Greenberg was elected chairman of the Nationwide Committee
US-China relations after being “an exemplary” Nationwide Committee board member and officer and “supporting the Committee’s mission.” The Nationwide Committee for US-China Relations offered tickets value $40,000 to Individuals and US corporations to sit down at Xi Jinping’s desk on the welcome banquet in San Francisco with a number of different senior CCP officers and friends, which was crushed in a single day. scathing letter of the Home Choose Committee on the CCP.

In 2022, Xi despatched private greetings to a gala honoring Greenberg. In the meantime, Greenberg sits on the advisory board of the Tsinghua College College of Economics and Administration, an establishment directly tied for China’s nationwide safety and protection equipment. That college operates below a wing of the Chinese language authorities recognized for creating protection expertise, a connection that will doubtless increase pink flags for any American government overseeing delicate insurance coverage information.

Greenberg is not the one outstanding American enterprise chief to serve on that board, a bunch that additionally consists of Meta CEO Mark Zuckerberg and Carlyle Group co-founder David Rubenstein and Apple CEO Tim Prepare dinner.

Chubb CEO Evan Greenberg along with Minister of Overseas Affairs of the Folks’s Republic of China Wang Yi (Chinese language Ministry of Overseas Affairs)

Greenberg has additionally known as on the US to “tone down the rhetoric on Taiwan” and has labeled efforts to include the CCP as “self-isolating” and doomed to failure. In letters from shareholders, he warns towards treating the competitors between the US and China as a ‘new chilly warfare’ and labels some US commerce protection measures as ‘unsuitable’ and ‘unwise’.

Nevertheless, Greenberg has acknowledged the difficult nature of the state of affairs in Taiwan.

“Taiwan poses probably the most speedy danger of battle to the US-China relationship,” he mentioned in 2022. “Beijing has made clear its ambition to attract Taiwan into its orbit and is more and more aligning sources with its ambitions. “Washington is bettering coordination with allies to collectively deter China from utilizing power, whereas supporting Taiwan’s efforts to enhance its self-defense.”

Additionally in 2022, Chubb obtained approval from the Chinese language authorities to amass majority stakes in Huatai Insurance coverage Group, a Chinese language firm with greater than $10 billion in property. That significance has remained ever since grown to 85.5%. In the meantime, Greenberg’s father, Hank Greenberg, organized enterprise offers and conferences with CCP officers, together with an occasion sanctioned by Xi forward of a key US-China summit.

That very same yr, Greenberg’s father led a bunch of executives who met with Chinese language officers forward of Xi’s summit with President Biden in Bali. A suppose tank affiliated with the Chinese language Ministry of Overseas Affairs
organized the Chinese language delegation.

As well as, an organization owned by Greenberg’s father, CV Starr, owns greater than 90% of a Chinese language insurer previously often known as Dazhong.

Greenberg has not been solely complementary to China and has raised issues and criticisms about China, said last year“China has undermined its attraction in lots of elements of the area by its revanchist makes an attempt to demand acquiescence to its territorial claims and mismanagement of its personal economic system.”

“Beijing’s declining home efficiency is lowering its attraction, and its bullying conduct is driving many international locations nearer to america.”

A 2022 Chubb annual report states that the US is searching for an Indo-Pacific area that continues to be “free from Chinese language hegemony.” The insurance coverage firm’s 2023 annual report was additionally essential of China, saying: “China is seen as each necessary and a supply of worry for a lot of international locations all over the world. China is a revisionist and revanchist energy that’s pursuing a large-scale growth of army capabilities.”

Fox Information contributor and China skilled Michael Pillsbury instructed Fox Information Digital Greenberg performs a job in speaking with China on behalf of the Trump administration.

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The Chinese language nationwide flag flies on Pingtan Island, the closest level in China to the primary island of Taiwan, in China’s southeastern Fujian province. (Adek berry)

“In current months, earlier than China accepted President Trump’s request to fulfill with Xi Jinping, Evan Greenberg performed a backstage function to area American complaints by bringing collectively American CEOs to fulfill with Xi Jinping,” Pillsbury mentioned.

“It helps educate President Trump on how poorly American corporations have been handled, as he’s decided to finish the outrageous mistreatment of American corporations. Mates of mine within the White Home inform me that Evan Greenberg has drawn up an inventory of grievances about how poorly our corporations are handled in China. One CEO even used the time period China ‘gangsterizes our corporations.'”

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Will Hild, government director of client analysis, instructed Fox Information that Digital Chubb management has ignored clear nationwide safety warnings about China.

“Regardless of rising warnings from U.S. intelligence companies concerning the dangers posed by the Chinese language Communist Celebration, Chubb has invested billions of {dollars} in Chinese language corporations, and Greenberg continues to deal with Chinese language President Xi Jinping as a associate and good friend, even assembly privately with Xi Jinping and publicly portraying him as a power for good,” Hild mentioned.

“Because the saying goes, present your pals who you actually are, and Greenberg’s actions have made it clear that he’s fully concerned with the CCP. Our marketing campaign exposes the uncomfortable reality: when American corporations align themselves with communist dictators and implement insurance policies at residence, they betray not solely their nation, however their prospects as effectively,” he added.