Yahoo Finance Intact Financial Corporation publishes 2022 Social Impact & ESG Report
More than one in two stakeholders recognize Intact's efforts to build resilient communities according to the Resilience Barometer survey
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TORONTO, April 27, 2023 /CNW/ - Intact Financial Corporation (TSX: IFC) today announced that its 2022 Social Impact & ESG Report – Building Resilient Communities is available at www.intactfc.com. The report includes the 2022 public accountability statement for Intact and its applicable subsidiaries.
Society is at a pivotal time, and Intact'spurpose – to help people, businesses and society prosper in good times and be resilient in bad times – also drives its conviction to be a leader in building resilient communities. Intact defines resilient communities as being climate proof and economically thriving.
"In 2022, our people, customers, and communities have faced increasing headwinds both from the economy and from the impacts of climate change," said Diane Flanagan, Deputy Senior Vice President of Corporate Affairs and Communications at Intact, and Chair of the Intact Foundation. "Helping is at the heart of our purpose, and we put our expertise and resources to work every day to get customers back on track, prepare communities to face the impacts of climate change, and create opportunities for families living in poverty."
The 2022 Social Impact and ESG Report highlights Intact's objectives, illustrates how its financial and non-financial goals tie together, and demonstrates how the company is performing against other key societal metrics. Intact constantly challenges itself to find the intersections between helping society and winning in the marketplace.
Here are some highlights of the Report:
Building Climate Resilient Communities
Intact has been on the frontlines of climate change with customers for over a decade. In 2022 alone, Intact handled over 1 million claims and paid out $11 billion to get customers back on track. In Canada, the companyhelped customers with 4,500 claims related to Hurricane Fiona and in the U.K., managed 16,000 claims from the most severe windstorm in 30 years.
Intact has invested $25 million into 100 climate resilience projects over a 13-year period, including at the Intact Centre on Climate Adaptation at the University of Waterloo, as well as more recent partnerships established with the Nature Conservancy of Canada, and Gloucestershire Wildlife Trust in the U.K.
Building Economically Resilient Communities
Intact's efforts to build economic resilience has been focused on creating opportunities for families living in poverty. For its annual Generosity in Action campaign, Intact partnered with the United Way Canada and matched employee contributions allocated to programs focused on supporting vulnerable communities. Since 2018, Intact has partnered with the Breakfast Club of Canada with a $3 million-commitment to help expand and sustain children's breakfast programs across the country.
Supporting Community Well-being by Enhancing Employee Generosity
Intact's 29,000 employees have also stepped up to demonstrate the company's value of Generosity. Last year, employees donated more than $3 million globally and volunteered 14,778 hours of their time to more than 400 organizations. To enhance employee generosity, Intact donated $12.5 million to more than 2,000 organizations globally.
Introducing the Resilience Barometer
With a goal of having "3 out of 4 stakeholders recognize Intact as leaders in building resilient communities", Intact worked with the global market research firm, Ipsos, to create a Resilience Barometer to measure its performance. Six stakeholder groups were surveyed – customers, employees, brokers, investors, governments, and NGOs and industry associations. The initial results were encouraging:
More than half of the company's stakeholders recognize Intact as a leader in building resilient communities, and
90% of stakeholders believe that Intact has a responsibility to help communities become more resilient.
About Intact Financial Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and Ireland. Our business has grown organically and through acquisitions to over $21 billion of total annual premiums.
In Canada, Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly-owned subsidiary BrokerLink, and directly to consumers through belairdirect. Intact also provides affinity insurance solutions through the Johnson Affinity Groups.
In the US, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, and wholesalers and managing general agencies.
In the U.K., Ireland, and Europe, Intact provides personal, commercial and specialty insurance solutions through the RSA brands.
SOURCE Intact Financial Corporation
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