QBE Blazes the Trail for Employee Impact Investing

QBE North America has launched a pioneering initiative allowing employees to participate in philanthropic impact investments through the CataCap platform and ImpactAssets donor-advised fund.

Rhea-AI Summary

QBE North America has launched a pioneering initiative allowing employees to participate in philanthropic impact investments through the CataCap platform and ImpactAssets donor-advised fund. A pilot group of 100 employees can invest $1,000 each, seeded by the QBE Possibilities Fund, into opportunities focused on climate resilience, racial equity, and gender equality.

Employees can add their own funds, which are tax-deductible and eligible for a QBE Foundation match. Any returns flow back into donor-advised accounts for reinvestment. This initiative makes impact investing accessible to all employees, not just high-net-worth individuals. After the pilot, all QBE North America employees can build impact investment portfolios with minimum donations of $100.

Positive

• Innovative employee engagement in philanthropic impact investing
• Company provides $1,000 seed money for 100 employees in pilot program
• Tax-deductible employee contributions with company match, doubling impact
• Potential for ongoing reinvestment of returns into impact opportunities

Negative

• None.

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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 Donations can never be withdrawn from the donor-advised account, creating a virtuous cycle of capital allocation towards for-profit companies creating impact.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. 

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SOURCE QBE North America

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the QBE Possibilities Fund and how does it work for employees?

The QBE Possibilities Fund is an initiative by QBE North America that seeds $1,000 to each of 100 pilot employees for philanthropic impact investments. Employees can invest in opportunities focused on climate resilience, racial equity, and gender equality through the CataCap platform and ImpactAssets donor-advised fund.

How can QBE North America employees participate in the philanthropic impact investing program?

Currently, 100 employees are part of a pilot program. After September 2024, all QBE North America employees will have the opportunity to build a portfolio of philanthropic impact investments with minimum donations starting at $100.

What are the benefits for employees participating in QBE's philanthropic impact investing program?

Employees can make tax-deductible contributions, which are eligible for a QBE Foundation match, effectively doubling their impact. Any returns from investments flow back into their donor-advised accounts for reinvestment in other impact opportunities.

What impact themes does QBE's philanthropic impact investing program focus on?

The program focuses on impact themes including climate resilience, racial equity, and gender equality, allowing employees to invest in opportunities that address critical social and environmental challenges.