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Global Atlantic, National Forest Foundation enter multi-year partnership in support of reforestation and e-delivery
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
partnership
Rhea-AI Summary
Global Atlantic Financial Group has launched a multi-year partnership with the National Forest Foundation, committing up to $500,000 in donations through 2025 for tree-planting and reforestation programs. This includes annual grants of $50,000 and additional funds for each policyholder opting for e-delivery, potentially totaling $300,000. The initiative aims to enhance forest health and raise environmental awareness among policyholders. The donations reflect Global Atlantic's dedication to corporate responsibility and environmental sustainability.
Positive
Commitment of up to $500,000 for tree-planting and reforestation.
Annual grants of $50,000 through 2025 total $200,000.
E-delivery donations could add up to another $300,000.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, has announced a multi-year partnership with the National Forest Foundation. Under the agreement, Global Atlantic will donate up to $500,000 in total through 2025 in support of the National Forest Foundation’s tree-planting and reforestation programs, including donations on behalf of policyholders who elect electronic delivery (e-delivery) for their policies, statements and other correspondence.
“As an environmentally conscious corporate citizen, Global Atlantic is partnering with the National Forest Foundation to make a difference in a way that’s meaningful to the company, our employees and our policyholders,” says Allan Levine, Chairman and CEO. “Our focus is on providing a more secure future; this is an extension of that mission.”
In all, Global Atlantic will donate up to $500,000 over the course of the next four years. The company has committed to annual grants of $50,000 through 2025, totaling $200,000. It will make additional donations toward tree-planting and reforestation efforts on behalf of each policyholder who elects e-delivery through 2025, up to another $300,000.
“Global Atlantic’s support will directly improve the health of National Forests by enabling the National Forest Foundation to plant trees and undertake specific and badly needed restoration work to increase forest resiliency,” says Mary Mitsos, President and CEO. “By engaging their policyholders directly, they are also helping raise awareness about how forests provide natural climate solutions.”
“Our policyholders have taken an important step in protecting their retirement security. Electing e-delivery reduces paper use, allowing them to help protect the environment, as well,” says Rob Arena, Co-President and Head of Individual Markets. “We’re taking a step to further encourage and reward them by planting a tree and protecting our forests on their behalf.”
About Global Atlantic
Global Atlantic Financial Group is a leader in the U.S. life insurance and annuity industry, serving the needs of individuals and institutions. With differentiated investment and risk management capabilities, deep client relationships, and a strong financial foundation, the company has established a track record of delivering proven, value-added solutions and long-term growth. Global Atlantic is a majority-owned subsidiary of KKR, a leading global investment firm that offers alternative asset management across multiple strategies and capital markets solutions. KKR’s parent company is KKR & Co. Inc. (NYSE: KKR).
About National Forest Foundation
The National Forest Foundation, chartered by Congress, engages Americans in community-based and national programs that promote the health and public enjoyment of the 193-million-acre National Forest System, and administers private gifts of funds and land for the benefit of the National Forests. Working on behalf of the American public, the NFF leads forest conservation efforts and promotes responsible recreation. We believe these lands, and all they provide, are an American treasure and are vital to the health of our communities.
Annuities are issued by Forethought Life Insurance Company, 10 West Market Street, Suite 2300, Indianapolis, Indiana. Variable annuities are underwritten and distributed by Global Atlantic Distributors, LLC.
Life Insurance is issued by Accordia Life and Annuity Company, 215 10th St, Des Moines, Iowa; and Preneed life insurance and annuities are issued by Forethought Life Insurance Company, 10 West Market Street, Suite 2300, Indianapolis, Indiana.
Global Atlantic Financial Group (Global Atlantic) is the marketing name for The Global Atlantic Financial Group LLC and its subsidiaries, including Accordia Life and Annuity Company, Commonwealth Annuity and Life Insurance Company, Forethought Life Insurance Company and Global Atlantic Re Limited. Each subsidiary is responsible for its own financial and contractual obligations. These subsidiaries are not authorized to do business in New York.
