Bermuda-based Edmund Gibbons Limited (EGL) has directed $100,000 in charitable giving to the Cayman Islands’ R3 Foundation to help Cayman’s community cope with the hardships brought on by the coronavirus pandemic.
EGL has a long-standing relationship with the Cayman Islands and does business in the jurisdiction through its majority ownership of British Caymanian Insurance through CG Coralisle group as well as its shared ownership of Clarien Bank with NCB Financial Group; which has a long-standing presence in the Cayman Islands through financial services subsidiaries NCB (Cayman) Limited and NCB Capital Markets (Cayman) Limited.
The $100,000 Cayman Islands donation was part of more than $400,000 of charitable donations made over the past 12 months in the names of Edmund and Winifred Gibbons or Edmund Gibbons Limited. Much of the money distributed in Cayman and Bermuda, has already been put to use by the R3 Foundation and the various Bermuda recipients, which included Bermudian charities’ programs supporting the community’s basic necessities:
“COVID-19 brought sudden joblessness and immense hardship to communities here in Bermuda and Cayman. The Gibbons family is heartened to know its philanthropy over the past year helped to ease the heavy burden families in these communities faced through no fault of their own,” said an EGL family representative.
Cayman’s R3 Foundation was founded in response to the hardship caused by the COVID-19 pandemic, but with a longer-term mission focused on readiness, relief and recovery in the Cayman Islands in relation to manmade or natural emergencies and disasters. With a founding contribution of CI$1M from the Kenneth B. Dart Foundation and a commitment to match a further CI$4M of donations, R3 is independently managed by an unpaid board of directors drawn from a range of business sectors and non-governmental community leaders. The foundation’s strong governance structure is supported by a former attorney general as supervisor and the sitting governor as principal.
Bryan Hunter, Chairman of R3 Foundation said: “This generous donation to Cayman’s R3 Foundation has been a huge help in providing essential services to those in Cayman most impacted by the COVID-19 pandemic. The funds have been directed to our objectives of relief and recovery in relation to the coronavirus pandemic, which includes providing food, rent and utilities assistance, mental health support and the training and upskilling of persons who have been displaced from their jobs or whose employment opportunities have been limited by the pandemic.”