The CEO of the Chubb
insurance company on Wednesday defended providing former President Donald Trump with a $91.6 million appeal bond in the civil case where he was found liable for defaming writer E. Jean Carroll after she accused him of rape.
Chubb CEO Evan Greenberg, in a letter to investors, customers, and brokers who expressed concerns about the bond, wrote that the decision to issue it to Trump “has nothing to do with the underlying merits” of the appeal, “or with favoring any of the parties in the case.”
“When Chubb issues an appeal bond, it isn’t making judgments about the claims, even when the claims involve alleged reprehensible conduct,” Greenberg wrote in the letter, which was obtained by CNBC.
“As the surety, we don’t take sides, he said. “It would be wrong for us to do so and we are in no way supporting the defendant. We are supporting and are part of the justice system plumbing included in this case.”
Chubb has been under fire since Friday when Trump revealed he had obtained the appeal bond from the company.
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