CEO of the insurance company that backed Trump bond in Carroll case defends issuing policy

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The CEO of the Chubb insurance institution connected Wednesday defended providing erstwhile President Donald Trump with a $91.6 cardinal entreaty enslaved successful nan lawsuit wherever he was recovered civilly liable for defaming writer E. Jean Carroll aft she accused him of rape.

Chubb CEO Evan Greenberg, successful a missive to investors, customers and brokers who expressed concerns astir nan bond, wrote that nan determination to springiness Trump nan enslaved “has thing to do pinch nan underlying merits” of nan appeal, “or pinch favoring immoderate of nan parties successful nan case.”

“As nan surety, we don’t return sides,” Greenberg wrote successful nan letter, which was obtained by CNBC.

“It would beryllium incorrect for america to do truthful and we are successful nary measurement supporting nan defendant,” he wrote. “We are supporting and are portion of nan justness strategy plumbing included successful this case.”

“I afloat recognize really polarizing and affectional this lawsuit and nan suspect are and really easy it would beryllium for Chubb to conscionable opportunity no,′ Greenberg wrote. “However, we support nan norm of rule and our domiciled successful it. We considered this nan correct point to do and we frankly near our ain individual feelings aside.”

Greenberg was named by then-president Trump arsenic a personnel of nan Advisory Committee for Trade Policy and Negotiations successful October 2018. He continued serving connected that sheet nether President Joe Biden until March 2023.

Chubb has been nether occurrence since past week erstwhile Trump revealed he had obtained nan entreaty enslaved from nan company.

If Trump loses his entreaty of nan defamation judgment, Carroll tin request costs from Chubb. But successful nan meantime, Carroll cannot cod connected nan damages awarded her successful nan case.

Greenberg successful his missive Wednesday said that Chubb had protected itself by requiring that Trump’s bond, for illustration immoderate others issued by nan company, is “fully collateralized.”

“If nan enslaved is called, past Chubb takes nan collateral which is intended to make america whole,” Greenberg wrote. “We hardly support aliases subsidize defendants aliases return ‘one for nan team.’ ”

Contessa Brewer

Contessa Brewer is simply a analogous for CNBC.

Dan Mangan, CNBC

Dan Mangan is simply a newsman covering authorities for CNBC.com.