Third Point Reinsurance has donated $55,000 to the Bermuda COVID-19 Emergency Fund. The fund was created by the Bermuda Community Foundation (BCF) to assist the island as it responds to the COVID-19 crisis.
The BCF has been working closely with charities in Bermuda via the Third Sector Coordinated Crisis Response Effort, a coalition of organisations created to help critical non-profits and organisations providing community support. The coalition includes Bank of Bermuda Foundation, the Inter-Agency Committee for Children and Families, Age Concern and other community groups.
Third Point Re has also donated $10,000 to assist the Bermuda Hospitals Board, which operates the main hospital on the island, with the purchase of ventilators, protective clothing and other much needed equipment.
Mark Nash, senior vice president of enterprise risk management and chair of the Third Point Re charitable giving committee, called the the donation to be deployed “as quickly and efficiently as possible.”
He said: “We agreed that the most effective use of our funds is to allow the experts in the field, who have for weeks been engaged with our charities and community organisations, to direct our funds towards the most urgent areas of need.”
Dan Malloy, CEO of Third Point Re, confirmed the donations will be in addition to its annual charity budget. “We are aware that many charities will be struggling to deliver on their programmes right now, and we don’t want to impact our ability to support these important initiatives. We’ll emerge on the other side of this crisis and we want these charities, who do vital work, to continue to succeed.”
Third Point Re focuses its charitable giving in the areas of mental health, education and environment and encourages individual donations by matching staff charitable donations of up to $2,000 annually.
Third Point Re, Bermuda COVID-19 Emergency Fund, Bermuda Community Foundation, Third Sector Coordinated Crisis Response Effort, Bermuda Hospitals Board