Business

FICOH Announces Bonuses and Charitable Contributions

January 3, 2018, 11:45 AM HST
* Updated January 3, 11:08 AM
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First Insurance Company of Hawai‘i Ltd. (FICOH) announced that it is rewarding all employees below the assistant vice president level with cash bonuses of $1,000, payable Friday, Jan. 12, 2018.

FICOH has 338 associates. The one-time cash bonuses apply to all non-officers—a total of 315 employees.

In addition, FICOH this year will contribute up to $600,000 to the First Insurance Company of Hawai‘i Charitable Foundation, which serves the local community in four main focus areas: education, health and social services, arts and culture and economic development.

Last year, the foundation distributed grants to local nonprofits totaling more than $419,000. The additional contribution of $600,000 to the foundation corpus will serve to increase FICOH’s charitable giving in 2018 and beyond.

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“One of FICOH’s core values is to build the future for our company and the community,” said FICOH President and CEO Jeffrey Shonka. “We realize our associates, more than any other asset, make the fulfillment of this value possible. The recently enacted Tax Cuts and Jobs Act provides us with another opportunity to recognize our associates—as well as our community—for their continued support and partnership.”

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