QBE Blazes the Trail for Employee Impact Investing

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Aug 05, 2024, 11:04 ET

The QBE Possibilities Fund seeding $1,000 each to a pilot group of 100 employees.

NEW YORK, Aug. 5, 2024 /PRNewswire/ -- QBE North America has launched a first-of-its-kind initiative in the US that gives employees a vehicle to participate in philanthropic impact investments made through the CataCap platform held at donor-advised fund ImpactAssets.

Philanthropic impact investing refers to the utilization of a donor-advised fund to direct donations to companies, organizations and funds with the intention of generating beneficial social or environmental impact as well as a financial return. Any return on the philanthropic investment recycles back into the donor-advised fund account where it can be redirected towards another philanthropic impact investment. Donations can never be withdrawn from the donor-advised account, creating a virtuous cycle of capital allocation towards for-profit companies creating impact.

A pilot group of 100 employees have been offered the chance to place a philanthropic investment of $1,000 each, seeded by the QBE Possibilities Fund, into a selection of five opportunities with impact themes focused on climate resilience, racial equity and gender equality. Employees may also add their own funds towards a philanthropic impact investment, and the donation is tax-deductible and eligible for a QBE Foundation match, effectively doubling the employees' contributions. Any returns flow back into the employees' donor-advised accounts for reallocation towards another impact opportunity.

This new capability makes philanthropic impact investing accessible to everyone, rather than exclusively to high-net-worth families, foundations and corporations. Once the pilot is complete, all QBE North America employees will have the opportunity to build a portfolio of philanthropic impact investments across a range of asset classes with minimum donations starting at $100.

"The QBE Possibilities Fund is thrilled to provide this opportunity to our employees to participate in this groundbreaking program that expects to have a positive impact on critical social and environmental challenges," said Adrian La Forgia, QBE North America's Chief Risk Officer. "When these investments generate a financial return to a revolving fund of philanthropic impact investments, we can offer ever-growing support for entrepreneurial-minded organizations focused on accelerating solutions to climate and equity challenges."

The QBE Possibilities Fund pilot will run through September at which time participation in philanthropic impact investments using the CataCap platform will be extended to all QBE North America employees.

About QBE North America

QBE North America is a global insurance leader helping customers solve unique risks, so they can stay focused on their future. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2023 of $7.6 billion. QBE Insurance Group's results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. Additional information can be found at qbe.com/us or follow QBE North America on LinkedIn, Facebook and Instagram.

SOURCE QBE North America