Gore Mutual marks 20 years of charitable efforts

Gore Mutual marks 20 years of charitable efforts | Insurance Business

Gore Mutual marks 20 years of charitable efforts

Gore Mutual’s foundation is marking two decades of charity work with a retrospective.

The company has issued a release discussing the 20th anniversary of the Gore Mutual Foundation.

“This year, to celebrate the 20th anniversary of the Gore Mutual Foundation, we wanted to do something different,” said Gore Mutual president and CEO Heidi Sevcik. “We decided to examine the impact of our giving by measuring the social return of our investments for the past 20 years. By identifying and addressing the social problems that intersect our business, we can focus our efforts on creating shared value and addressing community issues like sustainable development.”

Based on its charity work records, Gore Mutual Foundation found that its social return on investment for the past 20 years is $42 million.

Social return on investment is a method of measuring the social, environmental and economic

influence of capital investments in communities in monetary values.

“We have learned that our charitable grants have yielded on average a $5 return in social good for every $1 we’ve invested,” commented Gore Mutual director of marketing and communications Igor Bubic. “That places us above the national average of $2, according to figures from external evidence-based research.”

“The ethics and values of our business have informed how we operate our foundation and not the other way around,” added Gore Mutual chair of the board Farouk Ahamed. “It is intrinsically authentic and unique to us as a modern mutual insurance company.”

 

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