Last month at a media event the insurance industry nonprofit Insurance Industry Charitable Foundation (IICF) gave insurance industry leaders an opportunity to talk about their philanthropic initiatives. Leaders from AIG, AmWins, AXA XL, EY, Lloyd’s and The Hartford discussed their efforts to make a difference in various communities over the past year.
During the event, IICF released the 2020 COVID-19 Crisis: IICF Children’s Relief Fund Impact Report, which detailed the industry’s giving to its 2020 Relief Funds in the U.S. and UK and how the funds supported those in need, including by providing more than 2.5 million meals to children.
IICF positioned the event as a way for the industry to help itself attract new talent while also helping others.
“Increasingly, our industry is using its philanthropic voice to initiate and support the development of new talent from communities not previously aware of the career possibilities we offer,” said Hank Watkins, regional director and president of Lloyd’s, Americas, and chair of the IICF International board of directors.
The COVID-19 Crisis: IICF Children’s Relief Fund Impact Report, released at the roundtable, shared statistics from the industrywide campaign, including that $1.3 million was raised to combat food insecurity, educational disruption and that more than 1,500 individual insurance professionals contributed personally to help those in need. IICF’s five divisions across the U.S. and in the UK worked together with 26 nonprofit partners, awarding more than 60 grants.
The 2020 IICF Philanthropic Showcase highlights the charitable programs, volunteerism and inclusion initiatives of IICF and its key companies. Some of the showcased initiatives included:
AIG: Throughout 2020, AIG has donated more than $22 million in charitable contributions and matching grants. The AIG Foundation has directed $4.5 million toward organizations leading COVID-19 relief efforts, and to support the Black community and racial equity, the AIG Foundation made $500,000 in grants.
AmWins: The AmWins initiative to improve diversity and opportunity in the industry includes its partnership with Tuskegee University. The company has committed $1 million to help further the development and awareness of risk management programs in Historically Black Colleges and Universities (HBCUs).
Lloyd’s: Last year, Lloyd’s committed £15 million to support the pandemic relief efforts of charities in the UK, U.S. and other countries. Lloyd’s also donated $500,000 to the COVID-19 Crisis: IICF Children’s Relief Fund. This was the largest single contribution received by IICF to date.
The Hartford: In addition to the $1 million The Hartford committed to COVID-19 relief efforts across the country, the company provided $1.5 million to support U.S. small businesses in partnership with Main Street America, a nonprofit organization dedicated to preservation-based economic development.
Other IICF partner companies include Aon, AXA XL, Chubb, CNA, EY, Hub International, Munich Re, Swiss Re and Zurich.
Was this article valuable?
Here are more articles you may enjoy.