QBE, Red Cross and Save the Children grow strategic partnership to increase social impact
The QBE Foundation has today launched the next phase of its global Disaster Relief and Resilience Partnership (DRRP) with international charities Red Cross and Save the Children, to help communities prepare for disasters and build climate resilience.
Coinciding with International Day for Disaster Risk Reduction, the unique tri-partnership sees QBE increase its funding commitment to AU$1.5 million for each organisation over three years. This funding will go towards improving communities’ capacities to prepare, anticipate, respond and recover from disasters, building resilience and saving lives.
As a global insurer who sees first-hand the impacts of natural disasters, QBE understands how critical it is to improve the resilience and preparedness of communities, says Viv Bower, Group Executive Corporate Affairs and Sustainability, QBE Insurance Group.
“Resilience is central to QBE’s purpose of enabling a more resilient future. Since the inception of our partnership in 2019, we have reached even more vulnerable communities, responding quickly after catastrophic events and supporting a range of disaster preparedness and climate resilience initiatives.
“We believe our renewed partnership with Save the Children and Red Cross will be a key enabler in continuing to make a true difference for our communities and customers across the globe.”
During the first three years of the partnership, QBE, Red Cross and Save the Children activated the partnership in 19 countries and reached over 490,000 people through the distribution of relief items, cash support and preparedness initiatives. AUD$3.8* million has been deployed to date to support partners to deliver their programs and relief efforts, and AUD$2.8* million has been invested in the Save the Children Impact Investment Fund.
“This global partnership will strengthen resilience in communities across the world, which results in better humanitarian outcomes,” said Australian Red Cross CEO, Kym Pfitzner.
“To date the partnership has already reached almost half a million people, and with QBE’s funding increase, we’re ensuring more vitally needed support can be delivered in the future.”
Save the Children Australia CEO Mat Tinkler said, “Floods, bushfires and drought have taken a terrible toll on so many communities in Australia and around the world in recent years. Partnerships like these are critical to enabling us to support the recovery efforts of children, who bear the brunt of disasters, and QBE’s ongoing commitment to helping create climate resilient communities should be commended.”
By directing a portion of funds to climate resilience projects, QBE is also supporting efforts of communities to protect themselves from physical risks and potentially mitigate future disaster. Some of these projects have included:
- The DRR Fund, which enabled rapid response and recovery from the Black Summer Bushfires on the east coast of Australia, COVID-19, Cyclone Harold in Vanuatu, Texas Winter Storms and Hurricane Ida in North America, Central Vietnam Floods, Tropical Cyclone Rai in the Philippines, flooding in Queensland and New South Wales in Australia and wildfires in France.
- Supporting Red Cross to build capabilities in developing forecast-based funding models and address underinsurance by connecting and coordinating with insurance partners to explore a Parametric Insurance Product to cover South Pacific countries against cyclones.
- Investing in the Save the Children Impact Investment Fund via QBE Premiums4Good, which invests in high impact enterprises that address pressing social and humanitarian issues for children and emphasise social innovation.
- The Prepared to Save Lives in Australia initiative, which is ensuring Save the Children teams and partners in seven states and territories can undertake preparedness activities to ensure employees and our partners are able to respond rapidly to any emergency. This includes Disaster Workshops and Simulations, Child Friendly Spaces and Psychological First Aid training and prepositioned supplies.
To find out more about QBE’s Disaster Relief and Resilience Partnership, please visit the QBE website.
For more information:
External Communications Specialist
+61 422 907 484
* Calculated from USD to AUD with an average 2019-2022 foreign exchange rate of 1.40761881