UA’s Culverhouse Receives $2 Million Gift from Japanese and Birmingham Companies

TUSCALOOSA, Ala. — The University of Alabama’s Culverhouse College of Commerce received a $2 million gift today from Tokyo, Japan-based Dai-ichi Life Insurance Company, Limited and Birmingham-based Protective Life Corporation.

A portion of the funding will be used to endow a professorship in partnership with Protective, Dai-ichi and the Culverhouse College of Commerce called the “Dai-ichi Life Teaching Chair in Actuarial Sciences and Risk Management.”

The donation was announced at the Birmingham Botanical Gardens with representatives from both insurance companies, UA President Dr. Judy Bonner and Dr. J. Michael Hardin, dean of the Culverhouse College of Commerce present.

“We are deeply honored to receive this generous gift from Dai-ichi Life and Protective Life,” said Hardin. “These funds will help strengthen our curriculum in our insurance discipline and will help us to better prepare our students for future success. It’s also important to have this funding to maintain our one-of-a-kind Insurance Hall of Fame.”

The endowed professorship pays homage to the founder of Dai-ichi Life, Tsuneta Yano, known in Japan as the “father of mutual life insurance” and celebrated as an insurance pioneer worldwide.

Koichiro Watanabe, Dai-ichi president and representative director, and Shinichi Aizawa, managing executive officer, spoke on behalf of the Japanese company and its accompanying eight-person visiting delegation.

“We worked diligently and in tandem with Protective leadership to identify recipients that align with our company’s mission of, ‘By your side, for life.’ Each recipient in some way reinforces our company values, our culture and our commitment to improving the lives of the people and communities we serve,” said Watanabe.

The remaining funds will be used to support the Insurance Hall of Fame housed in UA’s Alston Hall. The Hall of Fame chronicles the history of insurance and honors leaders in the industry, including historic figures such as Yano. It hosts thousands of visitors each year and is used as a resource by both the College and the University to recruit outstanding students and faculty. Funds will be used for ongoing maintenance and support, including annual upgrades to the facility, as well as website maintenance.

According to John D. Johns, Protective chairman, president and CEO, “Through Dai-ichi’s tremendous generosity, Protective is able to enhance its level of corporate giving and provide extended assets to these and other entities over the next five years. These pledges reinforce the Protective Life Foundation’s commitment to the community and to the spirit of volunteerism which will remain at the core of our daily operations.”

UAB was also a recipient of a $2 million donation from the insurance companies.