In response to the Covid-19 global pandemic, in May 2020, the UK insurance and long-term savings industry - led by the Association of British Insurers (ABI) - launched a new fund to support those hardest hit by the pandemic.
Within four months, the Covid-19 Support Fund had raised over £100m, with donations from 37 firms, making it the biggest sector fund in the UK and a unique initiative within the global insurance industry.
From the outset, the Fund's goals concentrated on areas of most pressing social need resulting from the pandemic, working with a range of partners to deliver support to thousands of projects and people across the UK.
Within just months of launching, the Fund:
Attracted 37 donors from across the insurance and long-term savings industry
Donated £20 million to the National Emergencies Trust (NET).
Donated £20 million to the Charities Aid Foundation (CAF) resilience fund, a sum matched by DCMS.
Donated £2.5 million to the National Business Response Network (NBRN) enabling more than 3000 projects to benefit support.
Less than 12 months on, the Fund has distributed nearly all of the available funding to 17 key charity partners to deliver projects throughout the UK - getting the money raised by the sector on the ground at unprecedented speed to support the survival, and recovery of thousands of projects.