Leslie Scism, For ACE Chief, 'I Love Building.' Wall Street Journal, Dec 16, 2015/
http://www.nasdaq.com/article/fo ... ding-20151216-00054
Note:
(a) "Evan Greenberg and a close-knit team of top executives took the low-profile, then-Cayman Islands insurer and built it into a global giant with a $36 billion market value. Now, at 60 years old, he is working to close the deal for Chubb"
(i) Mr Greenberg is the CEO of ACE Ltd (established in 1985; the name ACE is not explained), whose headquarters is in Zurich, Switzerland.
(ii) Founded in 1882 by Thomas Caldecot Chubb and his son Percy, Chubb Corp is based in Warren Township, New Jersey.
https://en.wikipedia.org/wiki/Warren_Township,_New_Jersey
It was named for a Massachusetts physician "Joseph Warren, MD – uncle of John Collins Warren, MD, one of the MGH founders – [who] was killed while fighting in the Battle of Bunker Hill."
Dr Warren (1741 – 1775) also has a Massachusetts General Hospital (founded in 1811) building named after him.
(b) ACE in 1999 "acquiring Cigna Corp's midsize property-casualty business."
(i) Cigna sold only property-casualty business. Cigna Corp remains based in Bloomfield (a town in Hartford County), Connecticut.
(ii) Cigna Milestones. Cigna Corp, undated
www.cigna.com/about-us/cigna-company-history
("In 1792, a group of Philadelphia citizens formed the Insurance Company of North America (INA), the first marine insurance company in the United States. In 1865, the Governor of Connecticut signed a special law creating Connecticut General Life Insurance Company (CG) [was civilian an commercial nonetheless, no state-owned]. In 1982, Cigna was formed through the combination of INA Corporation and Connecticut General Corporation")
(iii) "In October 1871, the great Chicago Fire burned for two days, destroyed 2,000 acres and left 100,000 people in Illinois homeless. INA paid $650,000, one of only 51 insurance companies (out of a total of 202) to pay claims in full." Wikipedia
In other words, 50 insurance companies paid in full, and INA was one of them.
(c) "His [Evan Greenberg] departure from AIG after 25 years was abrupt. He walked away from the title of president and $14 million in future compensation. The Wall Street Journal reported at the time that Mr. Greenberg chafed at his father's controlling management style, as had an older brother before him. In the interview, Mr Greenberg declined to elaborate on his departure, calling it 'ancient history.' [Evan's father] Hank Greenberg said he regretted the exit and acknowledged he was harder on his sons because they were family."
Leslie Scism and Christopher Oster, Evan Greenberg Resigns From AIG, Leaving Father Without Successor. Wall Street Journal, Sept 20, 2000.
www.wsj.com/articles/SB969376774276312474
(d) "The Chubb deal came together in about a month. Mr. Greenberg ran the numbers while laid up with a broken ankle from a dressage accident, peppering his Morgan Stanley banker, Gregory Fleming, with questions every morning."
(i) lay up (vt): "to disable or confine with illness or injury <a knee injury laid him up for a week>"
beta.merriam-webster.com/dictionary/lay%20up
(ii) dressage (n: French): "the execution by a trained horse of precision movements in response to barely perceptible signals from its rider"
http://beta.merriam-webster.com/dictionary/dressage
(e) "Even as he works long hours, Mr Greenberg seeks to fit in eight to 12 hours a week for what he calls 'recreating,' working out, doing yoga or riding his horses. A favorite spot is Montana, where he owns property near Big Sky. 'I like the solitude,' he said. 'I love the scale.' "
scale (n): "an instrument or machine for weighing"
beta.merriam-webster.com/dictionary/scale
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