Members of the UK insurance and long-term savings industries, including Aviva, Lloyd’s and Zurich, have launched a new fund to support those hardest hit by the Covid-19 pandemic.
The Covid-19 Support Fund aims to raise £100 million, with £82.5 million already pledged. It will be made up of voluntary contributions from firms across insurance and long-term savings, and was launched in partnership with the Charities Aid Foundation, and a network of partners, including the National Emergencies Trust.
Members of the Association of British Insurers, British Insurance Brokers’ Association, Lloyd’s, and The London Market Group are supporting the fund. Of the donations pledged so far, £20 million is going to The National Emergencies Trust to aid community-based charities tackling the Covid-19 pandemic.
Sir John Low, chief executive of the Charities Aid Foundation, said: “Getting these vital funds quickly and safely into the hands of the many charities at the heart of our communities is central to Charities Aid Foundation’s mission and we are proud to be able to work alongside those in the insurance and long-term savings industries to make this happen. We know it will make a huge difference to many people in need of support at this time.”
General Lord Dannatt, chairman of the National Emergencies Trust, added: “Since the launch of our coronavirus appeal, generous pledges have meant we have been able to distribute more than £30 million and make more than 4,000 grants to charities across the UK. We are hugely appreciative of the support from the insurance and long-term savings community and will work to ensure the funds raised are quickly distributed to those who are most in need.”
Members of the UK insurance and long-term savings industries that have already committed donations are:
- Zurich UK
- AXA UK and AXA XL
- Allianz Insurance
- Direct Line Group
- Admiral, Pension Insurance Corporation
- Rothesay Life, American International Group UK
- Ageas Insurance
- LV= General Insurance
- Phoenix Group, Chubb
- Just Group
- NFU Mutual
- PIB Group
- Canada Life
- Standard Life Aberdeen