Allison Towlson has been appointed managing director of the Bank of Bermuda Foundation.

She has more than 30 years of experience in the insurance industry and joined Ace insurance in 1998 rising to the position of chief operations officer, and went on to be senior vice-president, distribution and operations, at Chubb.

Ms Towlson has been a member of the board of the Bermuda Tourism Authority, and served as a mentor under the Bermuda Foundation for Insurance Studies. She is the past chairwoman of the Insurance Development Council.

The Bank of Bermuda Foundation is an independent, philanthropic organisation, that supports the Bermuda community. Annually, it provides up to $2.6 million in grants to a wide range of non-profit groups in Bermuda, and up to $950,000 in student scholarships.

Ms Towlson said: “It’s an exciting time to be part of this dynamic and well respected organisation.

“The Theory of Change, that the foundation has recently embarked upon, really resonated with me as a Bermudian. The foundation places a high value, not simply on equality, but more importantly on equity.

“I am eager to work with our experienced board and talented team, to ensure we find ways to offer universal benefits for everyone in Bermuda, while targeting special support for those with need. I look forward to building meaningful partnerships within the non-profit community.”

She will be responsible for the overall management and direction of the foundation, reporting to the chairman. She will work closely with Vivien Carter, the foundation’s director of programmes, responsible for managing and building partnerships with non-profits through the foundation’s grant cycles, as well as Kim Pratt, who manages the day to day administration.