The UK-based parent company of Ansvar Insurance has changed its name to the Benefact Group.

Formerly known as Ecclesiastical Insurance Office, the new moniker and brand identity “marks an ambitious new chapter for the charitable owned Group and its family of specialist businesses, including Ansvar,” it says.

“The new name better reflects the group’s diversity, breadth and purpose. It means to do well by supporting a person or good cause."

Owned by a registered charity, Benefact Trust, Benefact Group’s family of businesses provide specialist insurance, investment management and broking and advisory services in the UK, Australia, Canada and Ireland.

Ansvar and all of the Group’s other trading brands will continue to operate under their own names.

The Benefact Group gives to charities focused on education, rural, heritage, arts, faith, climate change, animal and wildlife and a proportion of its profits goes to its charitable owner, the Benefact Trust. Originally created to protect parish churches from fire over 130 years ago, it includes over 30 specialist financial businesses including Ecclesiastical Insurance, EdenTree Investment Management, SEIB, Lycetts and Lloyd & White brokers.

Ansvar specialises in insurance and risk management solutions for the Care Services, Not for Profits, Education and Learning, Faith Communities, Arts, Culture and Heritage and Commercial Property Owner sectors. Its Community Education Program, started in 1994, has provided a range of grants contributing over $15 million to organisations with a focus on supporting the education and life skill development needs of disadvantaged young Australians.

CEO Warren Hutcheon said he “looks forward to a bright future as a part of the Benefact Group and to participating in the Benefact Group’s ambitious plans”.

Benefact Group is the fourth-largest corporate donor to charity in the UK, donating over £100 million ($180 million) to charity since 2016. It aims to give £250 million ($450 million) by 2025.