Arch Capital Group Ltd. Pledges $1.4 Million in Charitable Donations in Recognition of 20th Anniversary
10 December 2021 - 2:30AM
Business Wire
All employees were given an additional day of
volunteer time off as part of Arch’s “Global Giveback”
Arch Capital Group Ltd. (NASDAQ: ACGL) today announced plans to
donate $1.4 million, directed by employee voting, to charities
around the world in recognition of the 20th anniversary of the
firm’s founding. The gifts to charities were announced by François
Morin, Chief Financial Officer of Arch Capital Group, after company
leaders rang the closing bell at Nasdaq in recognition of Arch’s
anniversary.
The charitable donations target broad-based organizations with
missions that align with Arch’s giving priorities of health,
housing, education and environmental stewardship. The chosen
organizations also receive high rankings for their targeted impact
and financial transparency measures. Arch’s pledge of $1.4 million
will go to 51 charities worldwide. A full list of the selected
charities is provided below.
In addition to the corporate donations and to amplify the
company’s anniversary celebration, Arch increased its match for
employees’ charitable contributions from 1:1 to 2:1. During the
month-long enhanced match, employees donated nearly $600,000 to
charities most meaningful to them, which will result in more than
$1 million in additional corporate contributions from Arch.
Beyond monetary donations, Arch provided all employees an extra
day of paid volunteer time off. In total, nearly 1,000 Arch
employees contributed close to 5,000 volunteer hours to more than
150 organizations.
“Investing in the communities where our employees live and work
has played a critical role in our company’s success over the past
20 years,” said Morin. “Striving to make a difference is one of our
corporate values, and we are committed to supporting the
organizations that work tirelessly to help people in need.”
Marcy Rathman, Chief Environmental, Social and Governance
Officer, said, “We were overwhelmed by our employees’ response to
the Arch Global Giveback. Whether volunteering virtually or in
person, taking advantage of our 2:1 corporate match or advocating
for the organizations they wanted to receive corporate donations,
the passion and spirit of our workforce makes me incredibly proud
to work here.”
Donor Partners
Australia
- Habitat for Humanity Australia.
- Make-A-Wish Australia.
- The Smith Family.
Bermuda
- Age Concern.
- Bermuda Cancer and Health Centre.
- Bermuda Meals on Wheels.
- Coalition for the Protection of Children.
- Family Centre.
Canada
- Operation Harvest.
- Sunnybrook Foundation.
- The SickKids Foundation.
- Toronto Wildlife Centre.
Denmark
Hong Kong
- Feeding Hong Kong.
- Hong Kong Red Cross.
Ireland
Philippines
- ChildHope Philippines.
- Philippines Red Cross.
Switzerland
- Glückskette.
- Swiss Philanthropy Foundation.
U.K.
- Age U.K.
- Alzheimer's Society.
- FareShare.
- National Health Service Charities Together.
- ShelterBox.
- The Rainbow Trust Children's Charity.
- The Sick Children’s Trust.
United States
- 4-H.
- AALIVE (Adults with Autism Living with Independence Value and
Esteem).
- Alzheimer's Association.
- BackPack Beginnings.
- Covenant House.
- Feeding America.
- First Responders Children’s Foundation.
- Habitat for Humanity International.
- Little Wish Foundation Inc.
- One Simple Wish.
- Room to Read.
- Son of a Saint.
- St. Jude Children's Research Hospital.
- Stephen Siller Tunnel to Towers Foundation.
- The American Cancer Society.
- The American Indian College Fund.
- The Michael J. Fox Foundation for Parkinson's Research.
- The Nature Conservancy.
- The Ronald McDonald House Charities Inc.
- The Trust for Public Land.
- The World Wildlife Fund.
- United Negro College Fund (UNCF).
- Wounded Warrior Project.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a publicly listed Bermuda exempted
company with approximately $16.1 billion in capital at Sept. 30,
2021, provides insurance, reinsurance and mortgage insurance on a
worldwide basis through its wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. This release or any
other written or oral statements made by or on behalf of Arch
Capital Group Ltd. and its subsidiaries may include forward-looking
statements, which reflect our current views with respect to future
events and financial performance. All statements, other than
statements of historical fact, included in or incorporated by
reference in this release are forward-looking statements.
Forward-looking statements can generally be identified by the
use of forward-looking terminology such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe" or "continue" or
their negative or variations or similar terminology.
Forward-looking statements involve our current assessment of risks
and uncertainties. Actual events and results may differ materially
from those expressed or implied in these statements. A
non-exclusive list of the important factors that could cause actual
results to differ materially from those in such forward-looking
statements includes the following: adverse general economic and
market conditions; increased competition; pricing and policy term
trends; fluctuations in the actions of rating agencies and the
Company’s ability to maintain and improve its ratings; investment
performance; the loss of key personnel; the adequacy of the
Company’s loss reserves, severity and/or frequency of losses,
greater than expected loss ratios and adverse development on claim
and/or claim expense liabilities; greater frequency or severity of
unpredictable natural and man-made catastrophic events,
including pandemics such as COVID-19; the impact of acts of
terrorism and acts of war; changes in regulations and/or tax laws
in the United States or elsewhere; the Company’s ability to
successfully integrate, establish and maintain operating procedures
as well as consummate acquisitions and integrate the businesses the
Company has acquired or may acquire into the existing operations;
changes in accounting principles or policies; material differences
between actual and expected assessments for guaranty funds and
mandatory pooling arrangements; availability and cost to the
Company of reinsurance to manage the Company’s gross and net
exposures; the failure of others to meet their obligations to the
Company; changes in the method for determining the London
Inter-bank Offered Rate (“LIBOR”) and the potential replacement of
LIBOR and other factors identified in the Company’s filings with
the U.S. Securities and Exchange Commission (“SEC”).
The foregoing review of important factors should not be
construed as exhaustive and should be read in conjunction with
other cautionary statements that are included herein or elsewhere.
All subsequent written and oral forward-looking statements
attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. The
Company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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Greg Hare 678 462 8647 ghare@archgroup.com
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