Daily Insurance Industry News
Daily Insurance Industry News
Monday 15th of October 2018
March 29, 2011

Chubb creates $750,000 Japanese aid fund

by Richard Kilner

Story link: Chubb creates $750,000 Japanese aid fund

The Chubb Corporation has established a fund of $750,000 to benefit disaster relief efforts in Japan following the devastating earthquake and tsunami that struck the country.

Chubb has stated it will give the International Red Cross $500,000 and has indicated that it will match employee contributions to qualified relief organisations on a two-for-one basis, up to a total of $250,000.

If employees give in excess of $125,000, the excess will be matched by the firm on a dollar-for-dollar basis.

Harold Morrison, executive vice president, chief global field officer and chief global administrative officer, explained that the firm sought to help ease the suffering in Japan.

Earlier this month Jefferies announced it was donating $1m directly to help the aid effort, as well as numerous other acts of generosity based on equity trading revenues.

¥100m has been given by Morgan Stanley, $5m by JPMorgan Chase and Aozora Bank has donated ¥30m.


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