Arch Capital Group Ltd. Pledges $1.4 Million in Charitable Donations in Recognition of 20th Anniversary
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.”
- Habitat for Humanity Australia.
- Make-A-Wish Australia.
- The Smith Family.
- Age Concern.
- Bermuda Cancer and Health Centre.
- Bermuda Meals on Wheels.
- Coalition for the Protection of Children.
- Family Centre.
- Operation Harvest.
- Sunnybrook Foundation.
- The SickKids Foundation.
- Toronto Wildlife Centre.
- Hus Forbi.
- Feeding Hong Kong.
- Hong Kong Red Cross.
- Cystic Fibrosis Ireland.
- ChildHope Philippines.
- Philippines Red Cross.
- Swiss Philanthropy Foundation.
- Age U.K.
- Alzheimer's Society.
- National Health Service Charities Together.
- The Rainbow Trust Children's Charity.
- The Sick Children’s Trust.
- 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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