Pension Plan of The Chubb Corporation

The plan falls under the executive oversight of Evan G. Greenberg, Chairman and CEO of Chubb Limited. Day-to-day investment management and administration are handled by Chubb's internal treasury and benefits functions. The plan's assets are pooled with those of the Chubb Security Pension Fund through a common investment fund, which likely has its own governance committee and delegated investment staff.

The pension plan is a limited partner in funds managed by Aquiline Capital Partners, a New York-based private equity firm focused on financial services. Aquiline was founded by Jeffrey Greenberg, the brother of Chubb CEO Evan Greenberg. The investment represents a formal, arm's-length institutional commitment from the corporate pension plan into a private equity fund managed by a firm closely connected to the company's leadership family.

The plan uses a hybrid approach. It holds a direct real estate portfolio in Bermuda, consisting of mixed-use properties. For other alternative asset classes, including private equity, the plan invests as a limited partner through the Chubb Common Investment Fund, which pools capital from multiple Chubb-related pension plans to access external managers and strategies.

The US Pension Plan of The Chubb Corporation and the Chubb Security Pension Fund participate in the same common investment fund, effectively pooling their assets for scale and efficiency. Each plan retains its own liability profile and participant base, but investment decisions are made at the common fund level. This architecture allows the smaller individual plans to access institutional-caliber managers and strategies.

The plan is a corporate defined benefit pension, not a family office vehicle. Its assets come from employer contributions and investment returns, not from a founding family's operating-company exit. The sponsor, Chubb Limited, is a publicly traded property and casualty insurer with a market capitalization exceeding $100 billion, writing commercial and consumer insurance globally across 54 countries and territories.