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press release

April 15, 2020, 8:30 a.m. EDT

Protective Life Pledges $1 Million to COVID-19 Relief Efforts

Giving to Focus on Relief, Support and Recovery Solutions for Communities Throughout Protective’s Footprint

Protective Life Corporation has announced that the Protective Life Foundation has made a $1 million commitment to support both immediate and longer-term COVID-19 relief efforts. The giving will be directed to Protective’s community partners across its company footprint, providing relief, support and recovery solutions for those who need it most.

“As COVID-19 began to spread in the United States, the Protective Life Foundation immediately started working in our local communities to identify ways we can support those most impacted by this crisis,” said Rich Bielen, President and Chief Executive Officer, Protective. “Serving others is part of our corporate DNA, and now more than ever, we feel a sense of responsibility to help lead in the response to these challenging times.”

The Foundation will work with a range of nonprofit organizations to meet critical needs, including food security, education, childcare for essential workers, economic recovery, and more. To date, the Protective Life Foundation has made commitments to:

  • Birmingham Strong Fund, an emergency loan fund for small businesses in Birmingham, our headquarter city, that is focused on stabilizing employment, stimulating economic vitality and offsetting losses related to COVID-19.

  • University of Alabama at Birmingham (UAB) fund focused specifically on COVID-19 research and treatment development.

  • Organizations supporting childcare for essential frontline workers, including YMCA of Greater Birmingham and the Rapid Operating and Relief (ROAR) for Women Fund.

Across the Protective customer footprint, the Foundation is focused on meeting the critical needs of local food banks. Food banks are providing a vital service, but many are straining to keep up with the demand. For all financial donations Protective employees make to local food banks, the Foundation will match their gifts, up to a total contribution of $100,000. The designated food banks are in the company’s eight major operating locations, including Birmingham, Ala.; St. Louis; Cincinnati; Syracuse, N.Y.; Denver; Dover, N.H.; Chicago; and Brentwood, Tenn.

Through its Foundation, Protective is committed to improving the quality of life in our local communities and collaborating with others to create the greatest possible impact. In 2019, the Foundation provided $4.5 million of financial grants to support organizations that impact our communities and create a social safety net, including many whose work will support COVID-19 relief and recovery.

About Protective Life Corporation

Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. Protective traces its roots to its flagship company, Protective Life Insurance Company – founded in 1907. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing – for its employees, distributors, and most importantly, its customers. Protective’s home office is located in Birmingham, Alabama, and its 3,000+ employees are located in offices across the United States. As of December 31, 2019, Protective had assets of approximately $121 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. /zigman2/quotes/208507587/delayed JP:8750 +1.15% . For more information about Protective, please visit www.Protective.com .

View source version on businesswire.com: https://www.businesswire.com/news/home/20200415005171/en/

SOURCE: Protective Life Corporation

Brittnie Bordonaro
Corporate Communications
(205) 268-8611
brittnie.bordonaro@protective.com

Copyright Business Wire 2020

/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 1,500.00
+17.00 +1.15%
Volume: 7.15M
Aug. 14, 2020 3:00p
P/E Ratio
80.76
Dividend Yield
4.13%
Market Cap
¥1694.29 billion
Rev. per Employee
¥103.65M
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