Investment company FL Group will become the main sponsor of the Icelandic Symphony Orchestra in a move said to be “the biggest collaboration agreement in Iceland between a private company and a government arts organisation”, according to a company press release.
FL Group will donate ISK 10 million per year for the next four years.
In a released statement, Thröstur Ólafsson, Managing Director of the Icelandic Symphony Orchestra, said: “The agreement is extremely important for the orchestra because it will enable the orchestra to increase its educational and promotional work greatly.”
FL Group CEO, Hannes Smárason, said that the FL Board had set out a policy to support projects in the fields of “humanitarian concerns and culture”. Recently the company sponsored children in Guinea-Bissau. “It can be said that here these main elements of FL Group’s sponsorship, humanitarian concerns and culture, flow together,” said Smárason in a company press release.
The donation coincides with FL Group’s Annual General Meeting today.
In 2005, FL Group experienced the best performance in the company’s history earning pre-tax profit of ISK 20.5 billion.