NEW YORK, April 13, 2020 /PRNewswire/ -- Alleghany
Corporation (NYSE:Y) today announced that it has donated
one million dollars to the NYC
COVID-19 Response & Impact Fund in the New York Community
Trust. The donation reflects the desire of Alleghany's
management and Board of Directors to assist in the fight against
the pandemic and to support New York
City's most vulnerable residents.
About NYC COVID-19 Response & Impact Fund
The NYC
COVID-19 Response & Impact Fund was created on March 20, 2020 to aid small to mid-sized
New York City-based nonprofit
social service providers and arts organizations struggling with the
health and economic effects of the coronavirus. It will give grants
and no-interest loans to nonprofits that are trying to meet the new
and urgent needs that are hitting the city and the communities they
serve. The New York Community Trust will administer the Fund and
oversee grants, while Nonprofit Finance Fund will manage the loans.
Priority will be given to nonprofits addressing essential
healthcare and food insecurity, and in the arts and culture sector,
organizations with a demonstrated record of working from and
serving their communities. The Fund will help nonprofits with a
variety of needs, including protective equipment, cleaning
supplies, technological assistance, and support for financial
losses.
The Fund launched with $75 million
contributed by 18 founding members, including foundations,
companies and individuals. It has since grown to over $80 million and has attracted many new large and
smaller donors who care about nonprofits being able to continue
their vital public service missions.
About Alleghany Corporation
Alleghany Corporation
(NYSE:Y) creates value through owning and supporting its operating
subsidiaries and managing investments, anchored by a core position
in property and casualty reinsurance and insurance. Alleghany's
property and casualty subsidiaries include: Transatlantic Holdings,
Inc., a leading global reinsurer; RSUI Group, Inc., which
underwrites wholesale specialty insurance coverages including
property, casualty, professional liability and directors' and
officers' liability; and CapSpecialty, Inc., an underwriter of
commercial property, casualty and surety insurance coverages.
Alleghany's subsidiary Alleghany Capital Corporation owns and
manages a diverse portfolio of middle market businesses.
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SOURCE Alleghany Corporation