By <a id="author" class="author" href="/reinsurance/authors/kenneth-araullo/">Kenneth Araullo</a> <br>Aegon has announced the launch of a community investment program in Bermuda, including three components: education, financial and social empowerment, and a grant to the Bermuda Foundation.<br>The program expands Aegon’s presence in Bermuda, which began with Transamerica Life Bermuda’s establishment in the jurisdiction 20 years ago and was further reinforced when Aegon redomiciled its legal seat to Bermuda in September 2023. <br>Aegon CEO Lard Friese (pictured above) said the company’s commitment to Bermuda extends beyond business operations, focusing on long-term relationships and community development. The program is set to launch in 2025 and will run for an initial three-year term.<br><em><a href="https://share.hsforms.com/1BOryilGiQdGWVyYtUvY8Bwcys6f?utm_source=website&utm_medium=editorial_article&utm_campaign=warmup&utm_content=subscribe&utm_term=position1" target="_blank">Get the latest reinsurance news direct to your inbox twice a week. Sign up here</a></em><br>Beginning in the 2025-2026 academic year, Aegon will provide support for students pursuing careers in Bermuda’s key industries, including healthcare, trades, and technology.<br>The company’s Aegon Live Your Best Life Scholarships will offer financial assistance to Bermudian students requiring support. Scholarships of up to US$30,000 per academic year will be available for professional and vocational training programs. <br>Aegon will also provide grants to local nonprofit organizations focused on financial literacy, entrepreneurship, and social resilience. The company said these initiatives will promote financial education, enhance economic participation, and encourage skill development.<br>In addition, Aegon will also support organizations that address social inclusion, facilitate community engagement, and provide safety-net programs. <br>As part of the initiative, Aegon said that it will contribute to the Bermuda Foundation to support its long-term sustainability. Established 11 years ago, the Foundation manages philanthropic funds allocated to nonprofit organizations and aims to build a lasting endowment for the community.<br>The company noted its <a href="https://www.aegon.com/newsroom/news/2024/supporting-local-charities" target="_blank">commitment to social responsibility</a> through various initiatives and charitable programs in recent years.<br>One of its most important programs is the Global Community Investment Framework, which focuses on enhancing inclusion by empowering individuals both financially and socially.<br><strong>Read More:</strong> <a href="https://www.insurancebusinessmag.com/reinsurance/news/breaking-news/bermuda-free-reinsurance-courses-see-huge-participation--abir-492011.aspx" target="_blank">Bermuda free re/insurance courses see huge participation</a><br>Through the framework, the company said that it invests over €10 million annually in community projects, aiming to help people live their best lives. This approach allows for specific areas of local focus, ensuring that initiatives are tailored to the unique needs of each community.<br>In 2024, Aegon and its subsidiary, Transamerica, also united for the annual "Force for Good" initiative.<br>Over 1,700 colleagues participated in more than 100 activities worldwide, making a significant impact across diverse communities. Efforts included alleviating food insecurity, supporting vulnerable populations, organizing inclusive events for LGBTQIA+ refugees, and engaging in various community support activities.<br><em>What are your thoughts on this story? Please feel free to share your comments below.</em><br><em><a href="https://share.hsforms.com/1BOryilGiQdGWVyYtUvY8Bwcys6f?utm_source=website&utm_medium=editorial_article&utm_campaign=warmup&utm_content=subscribe&utm_term=position2" target="_blank">Get the latest reinsurance news direct to your inbox twice a week. Sign up here</a></em><br><br><a href="https://news.google.com/rss/articles/CBMizwFBVV95cUxOU29IbzA1RXBUeVVseVctRkdNc0dKbi12d2JZeUdsOTFNZWxuWU9MWUhiSDV0WUh0dVhRcnNaczFsRjRESi1ENl85dUdpY2k3dzF6WW5pSGY4ZlNCeVZsamZYai1OV1RZVElfMkpKQU5walJkMmxIVVNROHdyQkVNckhuV1RpaFBSN2EyZTFJSjZDUk9vY29QNUtmcTZQdU1CZzJWOUVRemt4TEM1ZmpGclMzbHdoZzNBTU8wS0NoSkk3eTRqMzlQNzI3dTdXUFk?oc=5">source</a>
