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August 10, 2020 at 05:20 AM
The MetLife Foundation says it will be contributing $500,000 to efforts to help Lebanon recover from this week’s catastrophic explosion in the port of Beirut.
The explosion, which shook Lebanon’s capital Tuesday, killed more than 200 people, displaced about 300,000 people, and caused more than $10 billion in property damage, according to Marwan Abboud, the governor of Beirut.
The explosion damaged the homes of more than 4% of Lebanon’s 6.8 million residents.
(Related: The Updated Katrina Contribution List)
MetLife’s Alico unit has been operating in Lebanon since 1953. It now has about 100,000 customers in Lebanon, and an office in the J.M. Plaza Building in Beirut, 2.5 miles from the site of the explosion.
MetLife generated the equivalent of about $180 million in premium revenue in Lebanon in 2019, according to the Insurance Control Commission of Lebanon.
