AIG gives $300,000 to help quake victims

American International Group Inc announced on Thursday that it will donate $300,000 to the China Foundation for Poverty Alleviation to support victims of the earthquake that struck China's Sichuan province in 2013.

The foundation will use AIG's contribution to provide ongoing recovery efforts in the affected regions, including the rebuilding of school facilities, repairing damaged infrastructure and equipping local agencies with risk-prevention and mitigation facilities.

The magnitude-7.0 quake on April 20 last year affected more than 1.5 million people across 14 prefectures and 89 counties, toppling buildings, schools and personal residences. It destroyed more than 2,986 kilometers of roads and more than 300 bridges.

"AIG is pleased and humbled to provide relief and recovery to a community so integral to our identity," said Peter Hancock, CEO of AIG Property & Casualty.

AIG has been expanding its business presence in China through strategic partnerships with the country’s leading insurance company, PICC. It has also given back to the society through strategic corporate social responsibility initiatives.

AIG has been active in charitable giving and social outreach in China since 2012 through a variety public awareness building programs aimed at safety. It has been involved in ongoing cooperative efforts with the Road Traffic Safety Association of China, as well as the country’s major education and academic authorities.

"The CFPA's mission to help people recover and rebuild safer communities is very closely aligned with AIG's own corporate social responsibility objectives, and we are confident that our donation will have a direct and positive impact on the victims of this catastrophic event," Hancock said.