DEFINITY FINANCIAL CORPORATION ANNOUNCES $900,000 PARTNERSHIP RENEWAL WITH THE CANADIAN RED CROSS IN SUPPORT OF EMERGENCY PREPAREDNESS
WATERLOO, ON, Sept. 27, 2023 /CNW/ - Definity Financial Corporation (TSX: DFY) has reaffirmed its long-standing partnership with the Canadian Red Cross on a new three-year agreement to support the Disaster Response Alliance and Be Ready programming. The renewed partnership includes a $900,000 total donation to be allocated over the term.
Disasters and emergencies are occurring with increasing frequency in Canada, with seven of the largest catastrophe events taking place in the past decade. As we are witnessing in real time, severe weather events are becoming more frequent, making it increasingly apparent that insurers play a crucial role in not only disaster recovery, but in preparedness, adaptation, and resilience. Committing $900,000 to the Canadian Red Cross' Disaster Response Alliance and Be Ready programming is just one example of how Definity is fulfilling its purpose of helping communities adapt and thrive.
"The unfolding climate crisis is a defining issue for humanity and has profound implications across our country, society, and economy. Through our valued partnership with the Canadian Red Cross, and as a member of the Disaster Response Alliance, Definity is helping Canadians prepare for and respond to the increasing frequency and severity of events, including severe storms and wildfires. We recognize the crucially important role that we, and the insurance sector, must play in helping to build resilience and adaptation capabilities in Canada."
"I want to thank Definity Financial Corporation for their generous support as the Canadian Red Cross stands ready to help individuals and families facing a disaster or emergency in communities across the country. After an unprecedented fire season in Canada, in addition to severe weather events in recent months, the Red Cross continues to provide humanitarian support that is needed now, more than ever before."
The donation aligns with Definity's climate strategy, supporting emergency preparedness and response, and community level social impact. Moreover, this partnership is an example of Definity's commitment to supporting resilience in Canadian communities. This funding was facilitated in collaboration with the Definity Insurance Foundation.
In addition to its membership in the Disaster Response Alliance, Definity supports the Canadian Red Cross through employee engagement including:
- Virtual volunteering through Missing Maps, a humanitarian project that enables more effective disaster response by pre-emptively mapping parts of the world that are vulnerable to natural disasters, conflicts, and disease epidemics.
- In-person volunteerism at the Red Cross Toronto Mobile Food Bank and the packing of emergency kits for distribution to communities in need.
- In 2022, 576 employees contributed financially to Red Cross appeals for disasters and humanitarian crises in Nova Scotia, Pakistan, and Ukraine. Donations were matched by Definity.
Definity and the Canadian Red Cross are members of Climate Proof Canada, a broad cross-sector coalition of organizations who jointly advocate for a more disaster-resilient society and economy, including the creation and implementation of Canada's National Adaptation Strategy.
Definity Financial Corporation ("Definity", which includes its subsidiaries where the context so requires) is one of the leading property and casualty insurers in Canada, with over $3.8 billion in gross written premiums for the 12 months ended June 30, 2023 and approximately $2.7 billion in equity attributable to common shareholders as at June 30, 2023.
SOURCE Definity Financial Corporation
Media inquiries: Sarah Attwells, AVP, Corporate Affairs, (C) 226-753-1130, [email protected]; Investor inquiries: Dennis Westfall, Head, Investor Relations, (C) 416-435-5568, [email protected]
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