Global Atlantic Re Foundation Awards $75,000 Grant to BioQuest in Support of Bermuda Biodiversity Research

Business Wire 5-Nov-2024 1:15 PM

Global Atlantic Financial Group ("Global Atlantic"), a leading insurance provider meeting the retirement and life insurance needs of individuals and institutions, today announced that it has awarded a $75,000 grant to BioQuest, a philanthropic NGO focused on biodiversity conservation using genomics. This funding is part of a three-year relationship that will be instrumental in advancing BioQuest's biodiversity research program, with a particular focus on Bermuda's signature species.

The grant from Global Atlantic's Bermuda-based foundation, the Global Atlantic Re foundation, will fund BioQuest's vital work in preserving and protecting Bermuda's distinctive biodiversity. Three projects have been selected for initial support: the Bermuda Cahow population study, Bermuda Skink reference genome and Bermuda Cedar Tree reference genome.

In connection with the grant for research and conservation efforts, BioQuest will provide hands-on biodiversity genetic educational opportunities for Global Atlantic employees. This will include informational sessions on the identification of different species through DNA and insights into genetic research processes. Global Atlantic employees may also have the opportunity to select specific Bermuda signature species, from a shortlist aligned with conservation needs of the Department of Environment & Natural Resources, on which BioQuest will focus its research in upcoming years.

Darryl Herrick, President of Global Atlantic Re and Co-Head of Reinsurance said, "We are proud to support BioQuest and its efforts to protect Bermuda's biodiversity with a focus on genetics. This collaboration forms an ideal alignment with one of the three key pillars of the Global Atlantic Re foundation, embracing our commitment to environmental sustainability initiatives throughout the island. We look forward to the partnership's contributions to help preserve our local environment for future generations, along with the educational journey for our employees and extended community engagement. We have a shared vision with BioQuest on the meaningful work we can accomplish together with lasting impact."

Jean-Pierre Rouja, Co-Founder and Executive Director of BioQuest, stated, "We are deeply grateful to Global Atlantic for their generous support. This grant will significantly enhance our ability to carry out essential biodiversity projects in Bermuda, particularly those targeting our signature species. By focusing on these keystone species, we are not only protecting individual species but also the broader ecosystems that rely on them. The hands-on educational component of this partnership will further strengthen our collaboration, offering valuable learning experiences to Global Atlantic staff and enriching our conservation efforts. We look forward to the positive impact this collaboration will have on both our biodiversity projects and the wider community."

Global Atlantic and BioQuest share a commitment to environmental stewardship, education and sustainable economic development. By securing this grant, BioQuest will be better equipped to implement cutting-edge research, conservation strategies and public education initiatives, all aimed at safeguarding Bermuda's natural treasures.

About BioQuest

BioQuest is an innovative philanthropic NGO focused on biodiversity conservation using genomics, starting with the Caribbean's signature species. Our aim is to create local biodiversity genetic research capacity whilst preserving our unique environment for generations to come. BioQuest's mission is to enable citizen scientists to study species close to home, instead of sending samples to centralised, often overseas, locations for sequencing. Using the latest long-read sequencing technology, we work together to improve and guide genomic conservation efforts previously thought unthinkable.

For more information about BioQuest's biodiversity projects and to learn how you can get involved, please visit www.bioquest.world.

About Global Atlantic

Global Atlantic Financial Group is a leading insurance company meeting the retirement and life insurance needs of individuals and institutions. With a strong financial foundation and risk and investment management expertise, the company delivers tailored solutions to create more secure financial futures. The company's performance has been driven by its culture and core values focused on integrity, teamwork, and the importance of building long-term client relationships. Global Atlantic is a wholly owned subsidiary of KKR, a leading global investment firm. Through its relationship, the company leverages KKR's investment capabilities, scale and access to capital markets to enhance the value it offers clients. KKR's parent company is KKR & Co. Inc. (NYSE:KKR).

Global Atlantic Financial Group (Global Atlantic) is the marketing name for The Global Atlantic Financial Group LLC and its subsidiaries. The Global Atlantic Re foundation is dedicated to the promotion of economic development, education and environmental sustainability initiatives throughout Bermuda.

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