Ecclesiastical rated “Excellent” by credit experts
Global credit rating agency AM Best* has affirmed the credit rating of Ecclesiastical Insurance Office PLC (EIO) as “Excellent”.
Ecclesiastical Insurance Group has been named the fourth biggest corporate giver to charity in The Guide to UK Company Giving.
The specialist insurer finished higher in the rankings than corporate giants such as Co-operative Group Ltd, Marks and Spencer Group and Vodafone Group and was the top insurance company in the 13th edition of the guide.
The guide from The Directory of Social Change reflects not only the amount of money that companies have donated to charity but also their in-kind support. The guide offers charities advice on how to develop a successful corporate partnership or sponsorship agreement, what to be aware of when seeking company support and how to apply.
Owned by a charity, Ecclesiastical is a unique financial services organisation that donates all its available profits to good causes. Ecclesiastical has donated over £99 million to charity since 2016 and is aiming to reach its ambitious target of giving more than £100 million by the end of 2021.
Ecclesiastical staff gave £400,000 to good causes in 2020 through personal grants and matched donations for fundraising and payroll giving as part of the company’s ‘My Giving’ scheme.
Mark Hews, Group Chief Executive at Ecclesiastical Insurance Group, said: “Owned by a charity, here at Ecclesiastical our core purpose is to contribute to the greater good of society, so charitable giving is at the heart of our business. We’re delighted to be named fourth biggest corporate giver to charity in the UK for the second time running, especially given our relative size. We’re proud to be able to give to good causes year-on-year as well as sharing our wealth of knowledge and expertise, offering practical skills and an army of willing volunteers in our amazing staff.”
Jessica Threlfall, Researcher at the Directory of Social Change, said: “Although it can be difficult to assess financial contributions, cash donations are just one of the many ways a company can offer support to a good cause. They also provide in-kind support such as pro-bono services, like free legal advice and skills-sharing.
“It’s clear from our research that company giving is now much more focused on corporate social responsibility (CSR), which includes initiatives like charity partnerships, educational outreach and environmental sustainability. Many companies involve employees in CSR activities, offering paid days off for volunteering, matching staff fundraising efforts or allowing staff to nominate charities close to their hearts.
“The companies featured in our Guide to UK Company Giving show their commitment to the communities in which they operate, collectively giving over £480 million in cash and in-kind support. We encourage all companies to follow their example.”
More information about ‘The Guide to UK Company Giving’ can be found on the Directory of Social Change’s website.
Last year, Ecclesiastical launched its latest Impact Report to celebrate some of the many good causes it has helped.