Intact's first social ventures investment to
target child poverty in a non-traditional way
TORONTO, Dec. 18, 2019 /CNW/ - Intact Financial
Corporation (TSX: IFC) has invested $200,000 in Windmill Microlending's Community
Bond Program to help skilled immigrants get the Canadian
credentials they need to work in their field.
This is Intact's first investment in the social ventures space
aligned with its child poverty social responsibility focus. To help
find new and creative solutions, Intact is investing in social
ventures that target the root causes of child poverty in a
non-traditional philanthropic way.
"Our social ventures investments will enable us to deepen our
commitment to addressing the root causes of child poverty while
challenging the status quo of philanthropy,'' said Diane Flanagan, Vice President of Corporate
Affairs and Communications, Intact Financial Corporation. ''Many
skilled immigrants and refugees are under-employed, putting them
and their families at risk of falling under the poverty line. We
invested in Windmill because it helps keep children out of poverty
by helping parents gain stable employment, which leads to stable
housing, food and education for children."
"When skilled immigrants and refugees are able to find work in
Canada that matches their skills,
experience and education, their incomes increase substantially and
their children are better off," said Claudia Hepburn, Chief Executive Officer of
Windmill Microlending. "We're grateful to Intact for their
investment in skilled newcomers through Windmill."
Intact's employees are also participating in windmill's
mentorship program. They are sharing their valuable experience and
expertise with newcomers in several fields, such as law and data
science. Through the program, Intact lawyer Victor Cheng is mentoring a lawyer from
Zambia. Read Victor's story HERE.
Learn more about Windmill Microlending.
About Intact Financial Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider
of property and casualty (P&C) insurance in Canada and a leading provider of specialty
insurance in North America, with
over $10 billion in total annual
premiums. The Company has approximately 14,000 full- and part-time
employees who serve more than five million personal, business and
public sector clients through offices in Canada and the U.S.
In Canada, Intact distributes
insurance under the Intact Insurance brand as well as The Guarantee
Company of North America brand,
through a wide network of brokers, including its wholly-owned
subsidiary BrokerLink, and directly to consumers through
belairdirect. Intact also provides specialized insurance programs
to public entities through its wholly-owned subsidiary, Frank Cowan
Company.
In the U.S., OneBeacon Insurance Group, a wholly-owned
subsidiary, provides specialty insurance products through
independent agencies, brokers, wholesalers and managing general
agencies.
SOURCE Intact Financial Corporation