Bermudian-based Allied World has made a two-year financial commitment of $700,000 to the St Baldrick's Foundation in the United States.

The donation will support the ongoing work of the foundation, and help two research projects designed to further St Baldrick’s mission.

The first programme, led by Vanja Cabric at Memorial Sloan Kettering Cancer Centre, aims to identify immune cells combating hepatoblastoma and uncover the tumour's escape mechanisms, paving the way for targeted paediatric immuno therapies.

The other, led by Rahela Aziz-Bose at the Dana-Farber Cancer Institute, seeks to understand the diets of cancer survivors and how 'food as medicine' initiatives can impact heart health.

St Baldrick's chief executive officer, Kathleen Ruddy said: “This commitment from Allied World has enabled the training of the next generation of researchers, the opening of high-impact clinical trials and expanded children's access to those trials.”

She said Allied World’s financial contribution has provided support for critical infrastructure and enabled the advent of innovative treatments for childhood cancers such as immunotherapy.

“Allied World has inspired many in the reinsurance industry to make children with cancer their priority,” she said. “That is perhaps their greatest contribution – an army of allies for children with cancer.”

Allied World has made several donations to St Baldrick's over the last 25 years, with employees and executive leaders also volunteering their time and participating in fundraising events in Bermuda and the United States.

Lou Iglesias, president and chief executive of Allied World, commented: “Allied World is committed to building long-term partnerships with organisations that support healthcare needs such as disease research, prevention and support programmes.

“We are incredibly proud of our relationship with St Baldrick's and look forward to supporting them as they continue to drive advancements in paediatric cancer treatments, bringing hope to countless families."

Over the years, hundreds of Bermudians in schools, clubs and other organisations have taken part in shave-off events to raise money for St Baldrick’s.