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Insurance Does Good with Charitable Giving

“Charitable Giving in the Property & Casualty Insurance Industry,” a report from McKinsey & Company indicates that charitable contributions by U.S. property/casualty insurance companies totaled more than $500 million in 2010, a level of giving that is comparable to other industries
July 10, 2012

“Charitable Giving in the Property & Casualty Insurance Industry,” a report from McKinsey & Company indicates that charitable contributions by U.S. property/casualty insurance companies totaled more than $500 million in 2010, a level of giving that is comparable to other industries. The industry’s cash gifts as a percentage of pretax profits are higher than the norm. Property/ casualty companies gave 0.89 percent of their profits, compared with an average of 0.78 percent for all industries. The leading recipients of property/casualty insurers’ largess were in the areas of education, health, social services and community development.

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