Financial firms help Japan
Financial services firms — many with operations in Japan — are opening their corporate pockets in response to the country's disasters.
The Massachusetts Mutual Life Insurance Co. has donated $100,000 to the Red Cross Japan Earthquake and Pacific Tsunami Fund, and also set up a matching-gift program for employee donations.
The Axa Group, which has several offices in Japan, has put 50 million yen, or about $618,000, into a fund for its employees.
Ameriprise Financial Inc., which contributes annually to the American Red Cross, donated $125,000 to its Disaster Relief Fund and the International Response Fund. Individual employee donations will be matched by the company up to $2,000.
Northwestern Mutual Life Insurance Co. pledged an immediate $125,000 to the American Red Cross. Subsidiary Russell Investments has associates in Japan.
ING Groep NV, through its ING for Something Better foundation, has pledged an initial 50,000 euros, or about $70,000, to the Japanese Red Cross. Of that total, 20% has been reached through donations.
New York Life Insurance Co. will donate $100,000 to the American Red Cross, which last week reported that it had received $98 million in targeted donations for Japan. The money is being used to purchase medical supplies, blankets, flashlights and radios, and to provide psychological support to victims.
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