Lighthouse Connect, an education-focused fund launched by Legal & General Reinsurance (L&G Re), is on track to deliver more than 230 laptops to Bermuda’s public-school students this academic year. Machines that have not yet been handed over to students are either on order or fully funded.
25 Mar 2021
In the latest delivery, students of The Berkeley Institute received 20 laptops last week. Lighthouse Connect partnered with the Berkeley Parent Teacher Student Association (Berkeley PTSA) to supply the devices, after the school identified students in urgent need. The laptops were delivered days before the return to remote learning for students of the high school caused by an increase in Covid-19 cases.
Established by L&G Re last May, the Lighthouse Connect fund is hosted by the Bermuda Community Foundation and is run in partnership with the Mirrors Programme to raise funds to provide free laptops to all Bermuda public-school students to support their education through the pandemic and beyond.
L&G Re provided the initial funding for Lighthouse Connect, which purchases Ministry of Education approved laptops for public-school students. Procurement of the laptops occurs in stages as funds are raised and laptops are distributed in order of need, a process managed by the Mirrors Programme.
Thomas Olunloyo, Chief Executive Officer of L&G Re, and Kimberley Jackson, Mirrors Programme Manager, handed over the laptops to Keisha Douglas, Principal of The Berkeley Institute who was joined by Andreaz Glasgow, Head Boy and fellow students Seth Hardtman and Zayne Sinclair representing the student body.
Lighthouse Connect addresses the increased need for digital learning tools during the Covid-19 pandemic, while also contributing to the long-term learning of Bermuda public school students. The initiative allows companies and individuals to contribute to the purchase of technology resources in a coordinated and cohesive manner, providing equipment suitable for schools.
Thomas Olunloyo, CEO of Legal & General Reinsurance: "We are delighted to have led this transaction and supported believe housing on this ground-breaking private placement. The strong demand from investors during the bidding process is testament to believe housing’s unique credit story. Furthermore, the notes, which are sustainability-linked, will support their desire to grow and deliver a positive ESG impact and continue to change peoples’ lives."
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023
Legal & General Reinsurance (L&G Re) is the Bermuda-based global reinsurance hub of Legal & General Group Plc, a multinational financial services company offering life and annuity reinsurance solutions. L&G Re provides reinsurance to clients in the UK, Europe, US and Canada and has assets under management of $30 billion.
*at 31 Jun 2021