Who Is Evan Greenberg? Businessman Connected to Trump's Bond

A former member of the Advisory Committee for Trade Policy and Negotiations under the Trump administration, Evan G. Greenberg, heads Chubb Ltd., an insurance company that guaranteed the former president's $91.6 million bond in his defamation case brought by E. Jean Carroll.

Greenberg, a veteran of the insurance industry with a notable tenure in global economic and environmental boards, oversees a company providing commercial, property, casualty, personal accident and other forms of insurance, even extending to providing financial instruments within the legal system to former presidents.

Chubb, through its Indiana-based subsidiary Federal Insurance Company, offered Trump the bond as a procedural aspect of legal appeals, the company told Newsweek, emphasizing its role in facilitating the judiciary process.

"Our surety division provides appeal bonds in the normal course of business," Chubb said in a statement provided to Newsweek on Saturday. "These bonds are an ordinary and important part of the American justice system, protecting the rights of both defendants and plaintiffs. For defendants, appeal bonds ensure the opportunity to exercise the right to appeal an adverse judgment, which might otherwise be lost in the absence of a bond.

"For plaintiffs, appeal bonds ensure that they will receive the damages when an award is confirmed on appeal, eliminating the need to chase a defendant for payment. This guaranty provides peace of mind as a plaintiff awaits finality in the appeals process. The surety receives full collateral from the defendant in exchange for issuing the bond."

Newsweek reached out to Chubb Ltd. and Trump's campaign by email for comment on Monday morning.

The chairman of the National Committee on United States-China Relations and a director at the U.S.-China Business Council, Greenberg is a known figure in the international business community with a deep-rooted family legacy in the insurance industry.

Son of Maurice Greenberg, the former chairman and CEO of American International Group (AIG), and the younger brother of former Marsh & McLennan CEO Jeffrey Greenberg, Evan has continued the family's presence in the global insurance sector.

While Greenberg may not be directly involved with the bond, Chubb's role in securing Trump's bond coincides with a period of remarkable financial success for the company.

Last month, and under Greenberg's leadership, Chubb reported its best earnings following a year of record growth and profitability.

"We had a record fourth quarter, which contributed to a blowout year—the best in our company's history," Greenberg informed investors in its earnings statement.

The period saw Chubb achieve double-digit premium growth globally, along with record property and casualty underwriting income.

At a rally in Georgia on Saturday, just one day after attorney Alina Habba notified the New York judge that a bond had been secured, Trump condemned the ruling, saying, "sometimes, it's not good to be rich."

"I just posted a $91 million bond on a fake story," the former president said at the rally, not explaining to the crowd that the money for the bond came from Chubb. "Totally made-up story. Think of it, $91 million. I could say things about what it would cost normally. Ninety-one million, based on false accusations made about me by a woman that I knew nothing about."

The Background

Carroll, a former Elle magazine columnist, thrust Trump into the legal spotlight with allegations of sexual assault dating to the mid-1990s. Carroll's accusations became the centerpiece of a defamation lawsuit against Trump in which she claimed he defamed her by denying her allegations of rape in a New York department store dressing room.

In an emotionally charged trial, a jury in May of last year found Trump liable for sexual abuse and defamation, awarding Carroll $83.3 million in damages.

Trump has consistently denied any wrongdoing, framing the lawsuit as politically motivated, especially given his prominent position as the GOP front-runner for the presidential race this year.

His denials, however, did not sway the jury, leading to the necessity of posting a $91.6 million bond to appeal the verdict.

The appeal bond, guaranteed by Chubb, ensures that Carroll can potentially receive the awarded damages should the appeal confirm the initial verdict. However, according to MSNBC legal analyst Lisa Rubin, if the appeal fails, Trump may need to raise even more money from a different entity.

"[The bond] only covers the appeal to the Second Circuit, it doesn't cover any appeal that he would take from the Second Circuit if it affirms the jury's verdict of $83.3 million," Rubin said. "If he appeals further to the Supreme Court, he's going to need somebody else to come and step in and provide that security if he takes that appeal further. Otherwise, he will owe her that money within a certain number of days following an [affirmation] by the second circuit."

If the appeal is unsuccessful and Trump seeks to take his case to the U.S. Supreme Court, the responsibility to secure a bond would then shift away from Chubb, Rubin said.

"Let's just say for the sake of argument that Donald Trump loses at the second circuit and he chooses not to take an appeal to the United States Supreme Court," Rubin said. "At that point, either Trump pays, or following around 60 days, Chubb itself will pay. But, if [Trump] wants to go to the Supreme Court after losing at the second circuit, he's going to have to find somebody else to help provide that security."