Beneva donates $1.2 million to United Way

Contribution shows employees' "spirit of solidarity"

Beneva donates $1.2 million to United Way

Non-Profits & Charities

By Mika Pangilinan

Beneva has made a $1.2 million donation to United Way, as part of its ongoing community welfare efforts.

This is the third consecutive year that Beneva has donated to the nonprofit. The funds were raised by the company, its employees and retirees.

According to a news release, this year’s “let’s help each other” campaign saw a participation rate that had an overall increase of 12%.

"We're very proud to be donating this sum to United Way, which demonstrates Beneva's spirit of solidarity and mutual aid,” said Jean-François Chalifoux, president and CEO.

“I was especially moved by the dedication of our employees who, year after year, answer the call with generosity and care.”

Beneva has also pledged to match 50% of all payroll deduction donations as part of its commitment.

The company acknowledged the dedication of employees who donated between $1,200 and $2,499 by matching their contributions.

Beneva’s donation additionally enabled the insurer to join the ranks of major “visionary” partners at Centraide Québec et Chaudière-Appalaches.

Beneva was born out of a merger between La Capitale and SSQ Insurance. It is the country’s largest insurance mutual, with more than 3.5 million members and over 5,000 employees.

Last month, Beneva received its first AM Best credit rating since officially launching operations earlier this year. It was assigned a financial strength rating of “A (excellent).”

“The ratings assigned by AM Best confirm that Beneva’s foundation is solid,” Chalifoux said in a previous statement.

“We are especially pleased with the results of this analysis which demonstrate that Beneva’s integration plan, business strategy and financial results are in line with the rating agency's expectations. This first-ever rating for Beneva is an important milestone in its evolution.”

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