The Nepal Youth Foundation
In 2015, Nepal was devastated by a large earthquake which is still causing significant hardship to the country today. Walking around villages in Nepal, large cracks in the infrastructure can still be seen and many houses that were reduced to rubble have not yet been rebuilt. At the time of the disaster, less than 5% of the people and property affected by the natural disaster were insured.
Capsicum Re is conscious that we must give back in a way that reflects the fundamentals of our business and offers us the opportunity to extend its value. Our business is based on selecting the most profitable risks, and our help should therefore be directed at those unable to effectively access our products in an effort to alleviate their suffering and equip underinsured communities with the tools needed to build their resilience.
To help meet this challenge, 40 members of the Capsicum Re team completed the ‘Race to the Stones’ endurance event in aid of the Nepal Youth Foundation, a charity established to offer hope and opportunity to Nepal’s most impoverished children. The Nepal Youth Foundation strives to provide every child they support with vital healthcare, education and a safe environment.
This 100km ultra-marathon certainly put us to the test, but collectively raising an incredible £210,000 made it more than worthwhile. The money raised helped the Nepal Youth Foundation to build a specialist vocational school in Kathmandu, providing local people with training in the skills required to rebuild their country’s crumbling infrastructure. Over time, this will not only help them to get back on their feet while rebuilding their communities, but provide real opportunities to improve the country’s skill base and offer meaningful employment.
Our work with the Nepal Youth Foundation makes an important internal connection between the people we serve through our insurance and reinsurance business and those for whom such services are out of reach. Over 600 students have now graduated from the OlgaPuri Vocational School, with 95% employability. Members of our team were subsequently invited to Kathmandu to witness first-hand the impact our efforts had made. The money raised by the Capsicum Re Foundation continues to change the lives of many in Nepal for generations to come.
Gina Parker, Co-Founder and Trustee of the Nepal Youth Foundation, said: “We feel incredibly privileged to have been able to work with Rupert and the Capsicum Re team. They raised a phenomenal amount to help build a vocational school in Nepal by taking part in the extremely tough Race to the Stones challenge. With a youth unemployment rate of 19.2% and 25% of the population living below the poverty line, the school continues to give disadvantaged youngsters the chance to learn a trade, receive on-the-job training and secure employment. The programme is already proving to be a huge success; we have seen that on average that the graduates are earning double the national average income, with many earning even higher. We are incredibly appreciative of Capsicum Re’s support and were thrilled to have the team join us in Nepal to see first-hand where their money had been put to good use. The trip was inspirational and really helped cement in the minds of the incredible Capsicum Re team just how much good work had been achieved and will go on being achieved with the money they raised.”
You can find out more about our extraordinary visit to Kathmandu here.