Ecclesiastical celebrates reaching £50m charity donation milestone
In a celebration event at Gloucester Cathedral, our home city, we marked the achievement of our goal to donate £50m to charity in just over two years. As we are owned by charity Allchurches Trust, we do not have to pay large dividends to corporate shareholders, so we can maintain competitive premiums for our customers and donate our profits to back to churches and the community.
Unprecedented level of giving
The £50m donation is unprecedented in the company’s 129-year history, even though we have long been donating our surplus profits to charity.
The goal to give £50m to charity over a three-year period was set in early 2014 by the Group’s Chief Executive Officer Mark Hews, who took up his post as the new CEO in May 2013. We have been able to reach this ambitious target ahead of schedule in just over two years.
At the same time, we have also been able to reduce underlying premium rates and enhance insurance terms for churches, despite heavy storm, flood and fire losses over this period.
All Churches Trust
The majority of Ecclesiastical’s donations are granted to the group’s parent company, the charity Allchurches Trust (ATL), for onward distribution to dioceses, churches, grants to clergy, charities and other good causes across the UK. The causes supported include church community projects, homeless charities, youth organisations and a variety of community and school projects.
Having reached our target of giving £50m to charity, we now aim to give a further £100m to charitable causes by 2020.