Travelers Announces 2023 Charitable Contributions of More Than $24 Million

Rhea-AI Summary

Travelers has announced its 2023 charitable contributions totaling over $24 million, pushing its decade-long total to approximately $234 million. The company’s Community Report also highlights over 100,000 volunteer hours by employees. Key focuses were on academic and career success, with over $5 million donated and significant volunteer efforts. More than $6 million supported neighborhood development, including building over 50 Habitat for Humanity homes and rebuilding 96 homes to FORTIFIED™ standards. Approximately $3 million funded arts and culture initiatives, impacting over 50,000 students and involving nearly 700 employees. The report demonstrates Travelers’ commitment to community support and development.

Positive

• Charitable contributions of over $24 million in 2023.
• Total giving of approximately $234 million over the past decade.
• 100,000+ volunteer hours logged by employees in the past year.
• More than $5 million donated to academic and career development initiatives.
• Employees volunteered over 1,400 hours for Junior Achievement.
• Over $6 million contributed towards neighborhood development.
• Employees participated in building over 50 Habitat for Humanity homes.
• 96 homes rebuilt to FORTIFIED™ standards through partnership with SBP.
• Approximately $3 million funded arts and culture initiatives.
• Partnerships with New York City Ballet and other cultural organizations provided scholarships to over 50,000 students.

Negative

• High charitable contributions could imply significant cash outflow.
• Volunteer hours might indicate potential operational time lost.
• Focus on charitable activities may divert attention from core business operations.

Company publishes community report outlining its annual giving and employee volunteer efforts

HARTFORD, Conn.--(BUSINESS WIRE)-- The Travelers Companies, Inc. (NYSE: TRV) today released its annual Community Report, detailing 2023 charitable contributions of more than $24 million. This brings the company’s total giving to approximately $234 million over the past decade. The report also highlights the more than 100,000 volunteer hours logged in the past year by Travelers employees.

“We take immense pride in supporting the places we call home, a culture clearly demonstrated through the thousands of hours employees dedicate to important causes each year,” said Marlene Ibsen, President and Chief Executive Officer of the Travelers Foundation and Vice President of Community Relations at Travelers. “The stories featured throughout this year’s report showcase our unwavering commitment to forge meaningful connections with community partners and contribute to the success of our local neighborhoods.”

The company’s giving and volunteer efforts are focused on improving academic and career success, developing thriving neighborhoods and creating culturally enriched communities. Below are examples of the initiatives Travelers supported in 2023 through both funding and volunteer activities.

Improving Academic and Career Success

• More than $5 million went to academic and career development initiatives, including the company’s signature talent pipeline program, Travelers EDGE® (Empowering Dreams for Graduation and Employment).
• More than 180 employees volunteered with BestPrep, a Minnesota-based nonprofit dedicated to providing students with business, career and financial literacy skills.
• Employees logged more than 1,400 volunteer hours supporting Junior Achievement, an organization that offers students lessons in financial literacy, career readiness and entrepreneurship.

Developing Thriving Neighborhoods

• More than $6 million went to organizations dedicated to creating and maintaining safe, stable and resilient neighborhoods.
• Employees logged more than 6,800 hours helping to build more than 50 Habitat for Humanity homes across the U.S. and Canada.
• Through the company’s partnership with SBP, a disaster resilience and recovery organization, 96 homes were rebuilt across the U.S. to FORTIFIED™ standards.

Creating Culturally Enriched Communities

• Approximately $3 million went to organizations focused on enriching lives through arts and culture.
• The company partnered with New York City Ballet; the Bushnell Center for the Performing Arts in Hartford, Connecticut; and Ordway Center for the Performing Arts in St. Paul, Minnesota, to provide live performances and scholarships to more than 50,000 students.
• Nearly 700 employees attended events hosted by Travelers Arts Speaks, the company’s employee program that helps spark meaningful and thought-provoking dialogue about diversity and inclusion.

For more information about Travelers’ community support, please visit Travelers.com/community.

About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $41 billion in 2023. For more information, visit Travelers.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521271688/en/

Media:

Courtney Garro, 860-277-8719

cgarro@travelers.com

Source: The Travelers Companies, Inc.

FAQ

How much did Travelers contribute in 2023?

Travelers contributed over $24 million in 2023.

What is the total amount of Travelers’ charitable contributions over the past decade?

Travelers' total charitable contributions over the past decade are approximately $234 million.

How many volunteer hours did Travelers employees log in 2023?

Travelers employees logged over 100,000 volunteer hours in 2023.

How much did Travelers donate to academic and career development in 2023?

Travelers donated more than $5 million to academic and career development initiatives in 2023.

How much did Travelers contribute to neighborhood development in 2023?

Travelers contributed over $6 million to neighborhood development in 2023.

What was Travelers' contribution towards arts and culture in 2023?

Travelers contributed approximately $3 million towards arts and culture initiatives in 2023.

How many homes did Travelers help build with Habitat for Humanity in 2023?

Travelers employees helped build more than 50 Habitat for Humanity homes in 2023.

How many homes were rebuilt to FORTIFIED™ standards with SBP in 2023?

Travelers helped rebuild 96 homes to FORTIFIED™ standards with SBP in 2023.