Business
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” PEMBROKE, Bermuda--(BUSINESS WIRE)-- Arch Capital Group
About this update from Arch Capital Group Ltd.
[{"type":"text","content":"\nAll employees were given an additional day of volunteer time off as part of Arch’s “Global Giveback”\n\n PEMBROKE, Bermuda--(BUSINESS WIRE)--\nArch 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.\n\nThe 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.\n\nIn 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.\n\nBeyond 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.\n\n“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.”\n\nMarcy 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.”\n\nDonor Partners\n\nAustralia\n\n\nHabitat for Humanity Australia.\n\n\nMake-A-Wish Australia.\...