ABIR members lead with COVID-19 charitable giving

Bermuda’s leading insurers and reinsurers donated more than $3 million to local charities during lockdown

Hamilton, Bermuda, July 14, 2020 – The Association of Bermuda Insurers & Reinsurers (ABIR) member companies teamed up to support Bermuda local charities during the global pandemic.

“ABIR member companies are ensuring that COVID-19-focused charitable giving responds to Bermudians’ needs during this global pandemic,” said Albert Benchimol, President and CEO of Axis Capital and Chair of ABIR. “From ensuring Bermudian students studying abroad return home safely to family, to supporting world-class technology at the island’s hospital, ABIR member companies have responded to Bermuda’s call.”

A summary of ABIR member giving during the first six months of 2020 outlines $3.1 million of support for Bermuda charities. The Bermuda Community Foundation COVID-19 Emergency Fund was the largest beneficiary, with over $500,000 contributed to support the effort. Additionally, the King Edward VII Memorial Hospital received almost $400,000 to support funding for ventilators, personal protection equipment (PPE), and related supplies. Significant amounts were also earmarked by individual firms for student donations, including laptops so students could engage in on-line learning, along with priorities for food charities, including Meals on Wheels and The Eliza Dolittle Society.

“Bermuda Community Foundation (BCF) extends a heartfelt thanks to ABIR member companies on behalf of the nonprofit organisations and their leaders that ensure Bermudians in need receive essential and emergency services,” said Myra Virgil, BCF CEO and Managing Director. “The swift and generous contributions meant funding could get where it was most needed during the crisis."

Community Foundation contributions have been directly deployed to nonprofits and coordinating partners whom to date report having:

• Provided meals and food to vulnerable families.
• Ensured the safety of women and their children fleeing domestic violence.
• Provided disaster response and relief support such as quarantined resident checks and transportation of individuals to testing sites.
• Ensured Wi-Fi/technology for over 300 residents in senior care homes and ensured staff and volunteers had access to PPE.
• Provided housing support to the unsheltered and supplies to the temporary shelters.
• Responded to over 200 calls from people in distress.
• Provided mental health support and services to people with special needs.
• Distributed medication and equipment to people with inadequate health coverage.

John M. Huff, President and CEO of ABIR said: “ABIR member companies – with 74 percent of team members being Bermudian – stepped up quickly and decisively and took a leading role at a time when Bermuda really needed it. Each one did their part, through corporate donations, matching employee donations, increasing their volunteer efforts and consulting with their own employees to select the beneficiary charities.

“Our ABIR members believe in Bermuda and want to see a strong future for the Island and its people. Once again, it has been gratifying to see Bermuda’s great companies pulling together to do good things for our local community.”

Over the past six months, 100 percent of ABIR’s membership—comprising 27 global insurers and reinsurers & brokers—contributed to the efforts including American International Reinsurance Company, Arch Capital Group, Argo Group, Armour, Ascot Group, Aspen, Assured Guaranty, Awbury, AXA XL, AXIS Capital, Chubb, Convex, Enstar, Fidelis, Hamilton Insurance Group, Hannover Re, Hiscox, Lancashire Group, MS Amlin, Partner Re, Qatar Re, Renaissance Re, Sirius Group, Third Point Re, Validus Re, Watford Re, Marsh/Guy Carpenter and Willis Towers Watson.

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About ABIR: The Association of Bermuda Insurers and Reinsurers (ABIR) represents Bermuda’s major property and casualty insurers and reinsurers doing business in 150 countries. Bermuda is an internationally recognized center of global expertise on underwriting for catastrophe, climate risk and cyber-risk transfer products along with other specialty insurance and reinsurance. For more information, please visit: www.abir.bm. Follow us on Twitter at @ABIR_Bermuda.

Attachment: Infographic of Bermuda’s leading insurers & reinsurers