Manulife Financial donates $50,000 to Lac Megantic recovery effort; earmarks half for community to direct to area of greatest need
WATERLOO, ON, July 10, 2013 /CNW/ - Manulife Financial announced today that it will donate $50,000 to assist with recovery efforts after the deadly train derailment in Lac-Mégantic, Quebec last weekend. Canada's largest insurer will direct $25,000 of the donation to the Canadian Red Cross while the remaining $25,000 will be earmarked for community leaders in Lac-Mégantic to direct to the area of greatest need in their community.
Manulife Financial has also announced that it will match employee donations towards the efforts to the Canadian Red Cross.
"Our hearts go out to everyone in that community," said Marianne Harrison, Senior Executive Vice-President and General Manager, for the Canadian Division of Manulife. "Our thoughts and hopes are with them as they deal with this catastrophic event."
The train derailment and massive explosion devastated the town of 6,000 on the morning of Saturday, July 6. Fifteen people are confirmed dead, nearly 40 are still missing and hundreds of people remain evacuated from their homes.
Volunteers from the non-profit Canadian Red Cross continue to respond on multiple fronts, providing critical services including shelter support and registration for evacuees.
"We wanted to provide financial support to help the Canadian Red Cross deal with the immediate situation in Lac-Mégantic, and we also wanted to offer support for what the community will need going forward," added Ms. Harrison. "Whether they choose to use it for a community fund or extended counseling services or something else, we'll wait to hear from community leaders there as to how they feel the remaining $25,000 will best support the community's recovery and rebuilding efforts."
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$555 billion (US$547 billion) as at March 31, 2013. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
SOURCE Manulife Financial Corporation