Chubb Ltd. CEO Evan Greenberg (pictured) called for greater consistency in U.S. trade policy, saying a more coordinated approach is needed to support economic stability, Bloomberg reported.
Speaking on a first-quarter earnings call, Greenberg said the federal government should align its trade, economic, and fiscal priorities. He expressed hope that future trade agreements would ease or remove tariffs, which he said have affected the country’s international standing and increased the risk of an economic downturn.
Greenberg also warned against overreliance on the U.S. dollar’s status as the world’s reserve currency, cautioning that the benefits it provides should not be taken for granted.
“We have the pleasure in the United States — and we ought to really cherish it — of being the reserve currency of the world, which gives us a borrowing capability,” Greenberg said. “Let’s be careful how we abuse that or we won’t have that privilege.”
His remarks come amid growing concern among business leaders about the broader economic outlook. According to Bank of America Corp., the ratio of positive to negative commentary on macroeconomic conditions during this earnings season is on pace to be the lowest since 2009.
Greenberg’s comments also coincide with a shifting U.S. trade agenda. The current administration has indicated a willingness to scale back tariffs on Chinese imports, while pursuing new trade agreements with multiple countries. Treasury Secretary Scott Bessent recently stated that the U.S. is seeking to finalize several deals in a short timeframe, although analysts remain skeptical about how quickly those efforts will materialize.
At the same time, ongoing trade tensions and the possibility of renewed tariffs continue to weigh on global markets. The administration has also signaled plans to reshape international financial institutions in line with its broader economic goals.
Chubb reported a 31% drop in core operating earnings in the first quarter, largely due to natural catastrophes including wildfires in the Los Angeles area. As of 10:37 a.m. in New York, shares were down 1.5% at $285.97.
Despite slowing growth in several international markets, the insurer does not plan to revise its capital allocation strategy. Greenberg said the company remains focused on its financial targets.
“I have confidence in what we can control in that regard, in our ability to continue growing operating earnings and EPS at a double-digit rate,” he said.
