Corporate Social Responsibility
ACR is committed to be a responsible corporate citizen and to make a positive impact on improving the quality of life.
At ACR, Corporate Social Responsibility (CSR) is fully integrated as part of the business philosophy of creating sustainable values for our stakeholders. Being in Asia and for Asia, ACR believes that enhancing the security and stability of Asia, particularly in Asian insurance and reinsurance markets, is a core contribution which ACR can make in benefiting Asian society.
In executing this objective, ACR remains focused on the four CSR cornerstones: Life Transformation, Sustainability and Development, Disaster Solutions and Relief, and Charitable Causes. These cornerstones are instrumental in enabling our business to operate in a sustainable manner.
• CSR COMMITTEE
In June 2010, a cross-functional CSR Committee was established to oversee the further development and integration of CSR within ACR.
The CSR Committee spearheads ACR’s engagement in the four cornerstone areas. Within each of these areas, core principles and pragmatic objectives have been developed, refined and implemented to achieve a better understanding of CSR and its integration into our daily operations.
With strong and ongoing support from the management, the CSR Committee works diligently by taking on various projects designed to improve ACR’s efforts in benefiting communities, preserving the environment and contributing to sustainability both in the short and long term within Asia.
• OUR RECENT FOCUS
Fully-subsidised Family PA Secure Cover
In Singapore, most low income families are deprived of insurance cover because they cannot afford it. ACR, together with SHC Capital Ltd and Beyond Social Services, has provided a pioneering benefit available to some 400 families at the lower end of the socio economic scale by providing them with fully-subsidised personal accident and medical covers, up to limits agreed. As over 700 individuals are covered by this insurance at no cost to them, we are able to deliver a meaningful benefit to a substantial number of people.
Efforts in Thailand
ACR lent a helping hand to the victims of the floods in Thailand by donating an inflatable rescue boat and an outboard motor which cost S$5,800, or approximately US$5,000. This donation, through ACR’s CSR Committee, was made to Mercy Relief, as part of the effort to help transport relief supplies to the affected areas which were inaccessible by land vehicles. ACR has offered further longer term assistance to Thailand in co-operation with the Thai Government.
Efforts in China and Hong Kong
ACR has also extended our CSR initiatives to China and Hong Kong. We are involved in one of Aide et Action’s early childhood care and education projects in Tiandong, Guangxi, China. This project involves the development of an education programme for rural children, as well as the building of a kindergarten to cater to these children. Aide et Action, an international development NGO focused on education, will commence the project in 2012.
In another province in China, ACR is also working together with Wu Zhi Qiao (Bridge to China) Charitable Foundation on a bridge-building project in Xingyan Village (興仁村), Yongsheng County of Lijiang. Construction is targeted to commence in the middle of 2012 and recycled materials are expected to be used in the project.
Employees from our Hong Kong branch office also participated in the Wu Zhi Xing 2011 Charity Walk on 13 November 2011, to raise funds for the Foundation.
Japan Quake and Tsunami Relief
Everyone at ACR remains concerned about the impact of the Tohoku earthquake and the ensuing tsunami of March 2011 on the people of Japan. A joint effort between ACR and its employees saw close to S$49,000, or approximately US$40,000, raised to support Mercy Relief’s Japan Quake and Tsunami Relief effort. This was raised through an initial contribution from the company, an employee fund-raising exercise, and an additional company commitment of S$2, or about US$1.60, for every Singapore dollar donated by our employees.
Pakistan Flood Relief
ACR in 2010 donated US$5,000 to support Mercy Relief's Pakistan Flood Relief efforts. The majority of the donation was pledged for the purchase of a water purification unit system, which was sent to HANDS, an organisation operating a camp for 1,000 displaced persons in Sukkur City.
Education Support Programs
These initiatives are part of ACR’s commitment to give back to society through education and training.
- The PSB Academy launched the Endeavour Award on 3 October 2011 to provide scholarships to financially disadvantaged and socially responsible individuals. ACR is supporting this initiative with a number of donations. ACR is also lending its support to the Yale-NUS College which will see its first intake of students in 2013.
- ACR jointly organised a painting award together with the Nanyang Academy of Fine Arts, themed "Connecting People For People's Future". ACR recognised the best student artists in the award with cash prizes, which are aimed both at encouraging talent as well as to ease the financial burden of successful students.