NEW YORK (Bloomberg) — Ace Ltd. chief executive Officer Evan Greenberg's bonus declined 31 percent in 2008 as the company's stock fell for the first time in six years.

Greenberg's bonus slipped to $2.9 million from $4.2 million in 2007, the insurer said yesterday in a regulatory filing. Total compensation was $13.7 million, compared with $14 million the year earlier. Zurich-based Ace maintains its principal executive offices in Bermuda.