BILTIR Members Give Back To Bermuda
BILTIR member companies have contributed over $4 million in donations to a range of projects across the community, the organization said.
A spokesperson said, “Bermuda International Long Term Insurers and Reinsurers [BILTIR] member companies continue to demonstrate their commitment to the Bermuda community by supporting more than 50 charitable initiatives over the last year. BILTIR, as an association, also donated directly to the Bermuda Hospital Board and the Bermuda Community Foundation in support of COVID relief.
“BILTIR represents 65 long-term insurance, reinsurance and servicing companies in the Bermuda life insurance and reinsurance sector. Bermuda life insurers play a critical role in the diversification of risks and the reduction of costs for life insurance and retirement solutions. Bermuda is an important part of the maintenance of a solid robust insurance industry that ensures lasting security for long-term policyholders.
“BILTIR and its member companies have contributed over $4m in donations to a range of deserving projects across the community. The life reinsurance sector has also supported more than 50 initiatives this year, including volunteering, fund-raising, sponsorships, scholarships, mentoring and donations to local causes and schools. Some examples include:
- “Athene Life Re [a subsidiary of Athene Holding], together with Athora Holding Ltd., Aspen Insurance Holdings Limited and Catalina Holdings [Bermuda] Ltd. recently announced their donation of $3.5 million to the Bermuda College Foundation to create a Career Development Centre at Bermuda College
- “BILTIR association giving $50,000 to Bermuda Hospital Board and Bermuda Community Foundation in support of COVID-19 emergency funds, as well as providing scholarships, tutoring and internship programmes for Bermudian students
- “Athene Life Re in conjunction with Athora Holding Ltd., Aspen Insurance Holdings Limited and Catalina Holdings [Bermuda] Ltd donating more than $400,000 to fund the purchase of eight life-assisting ventilators for the Bermuda Hospitals Board
- “Athene Life Re establishing the Athene Scholarship with Bermuda College which awards 10 students, each academic year, scholarships covering the full cost of each student’s associate degree programme and required books. The programme supports students pursuing degrees in Accounting, Actuarial Science, Business, Economics, Finance, Human Resources, Information Technology, Insurance & Risk Management, Legal Studies or Mathematics and provides them with Work Study opportunities with Athene.
- “Athene Life Re donating $25,000 to the Third Sector Coordinated Crisis Response in Bermuda to help provide essential items for vulnerable populations
- “Hannover Life Re donating more than $35,000 to Northlands School and supporting charities such as Bermuda Education Network, Bermuda Underwater Exploration Institute, Bermuda Music School and Bermuda Basketball Youth Federation
- “Global Atlantic Re volunteering and donating to charities such as SCARS, Family Centre, Hamilton Seventh Day Adventist feeding programme, funding local kid’s sports teams and athletic programs and sponsoring student workbooks through Planet Math
- “Legal and General contributing $50,000 to the COVID-19 Emergency Funds, Lighthouse Connect project to purchase laptops for students and other scholarships
- “Kuvare providing a Treasurer for the Board of the Windreach Foundation and contributing to the COVID-19 Emergency Fund
- “Resolution Re donating $40,000 to the Bermuda Emergency Fund for Covid-19, and has supported other initiatives such as the Coalition for Protection of Children breakfast programme and the Gina Spence Productions school uniform drive
- “Sun Life Financial International contributing almost $100,000 to a range of charities, including the COVID-19 Emergency Fund, Bermuda Zoological Society, Meals on Wheels, Women’s Resource Centre, and Bermuda Diabetes
- “Wilton Re donating toward laptops and school shoes for students at Prospect Primary and supporting an asthma medical assistance programme for Open Airways, as well as staff volunteering for various local charities and churches
“I am very proud of the efforts our members make every year to support Bermuda’s worthwhile charitable initiatives and give back to the local community,” said BILTIR Chair Sylvia Oliveira. “2020 has been a particularly difficult year due to COVID-19, and I would like to thank our members for the hard work and solidarity they have shown in supporting the island through this crisis.”
