Island charities to benefit from donation marking company’s 20th anniversary
Five Bermuda charities will reap the rewards as the global parent company of a major local insurer celebrates its 20th anniversary.
Bermuda is among ten countries on the list for a $1.4 million donation worldwide by Arch Capital Group, with the giveaway to be directed by staff voting.
Age Concern, the Bermuda Cancer and Health Centre, Bermuda Meals on Wheels, the Coalition for the Protection of Children and Family Centre are set to benefit.
The donation was announced today by François Morin, the chief financial officer of Arch Capital, after company leaders rang the closing bell at New York’s Nasdaq stock exchange in recognition of Arch’s anniversary.
The firm chose 51 charities worldwide working in health, housing, education and environmental stewardship.
Selected organisations also got high marks for targeted impact and financial transparency.
The company matched its employees donations two to one. Staff also received an extra day off of paid volunteer time.
Donations will go to Australia, Canada, Denmark, Hong Kong, Ireland, the Philippines, Switzerland, the UK and the US as well as Bermuda.
Arch Capital Group is a Bermuda exempt company that held about $16.1 billion in capital as of September 30.
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