They say insurance is a family kind of industry, but the Greenberg family has taken it to the extreme. Patriarch Maurice “Hank” Greenberg, is Chairman of the world’s largest insurer, AIG – and his two sons are now the CEOs of two leading international insurance businesses.

Son number two, Evan, has just been named the new CEO of Ace Insurance. He had been the group’s COO since last June after joining Ace in 2001. He was President and COO of AIG, but quit suddenly four years ago. Rumour had it at the time that he was fired by his father.

Evan, 49, was heir apparent to the AIG throne, but said last year that he left because he wanted to work outside his father’s shadow. And perhaps because dad, who turns 79 soon and has been CEO for more than 36 years, has shown no sign of wanting to step aside. Interestingly, insiders say that since Evan joined Ace it has become like a small AIG in business approach and style.

Eldest brother Jeffrey is Chairman and CEO of New York-based Marsh & McLennan. He was Executive Vice President of AIG when he jumped ship in 1977.