Business

Major U.S. insurers suspend political donations for next few months

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Supporters of U.S. President Donald Trump gather at the west entrance of the Capitol during a "Stop the Steal" protest outside of the Capitol building in Washington D.C. U.S. January 6, 2021. Picture taken January 6, 2021. REUTERS/Stephanie Keith/Files

Jan 13 (Reuters) - Major U.S. insurers on Wednesday decided to suspend contributions to political campaigns for the next few months, following last week's violence at the U.S. Capitol and challenge to President-elect Joe Biden's victory.

Chubb Ltd (CB.BN),one of the world's largest insurers, MetLife Inc (MET.N), Liberty Mutual Insurance and Travelers Companies Inc (TRV.N) joined a host of companies that are re-evaluating or temporarily stopping political donations. read more

"In light of last week's mob attack on the U.S. Capitol and attempts to derail the electoral college vote, Chubb has suspended for three to six months all campaign contributions while the company conducts an assessment of its political contribution policies," it said in a statement.

Liberty Mutual said it is suspending political contributions for the first quarter and is reevaluating its contribution strategy.

Travelers said it will not make any contributions through its Political Action Committee in the near term and will assess how it approaches future political donations.

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Reporting by Noor Zainab Hussain in Bengaluru; Editing by Arun Koyyur

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