Swiss Re Group will donate CHF 5 million ($8.09 million) to support people affected by the COVID-19 pandemic around the world, particularly in developing countries.

The funds will be distributed through the Swiss Re Foundation to organisations tackling the crisis.

“Our contribution is meant to support those who are fighting on the front lines,” Swiss Re CEO Christian Mumenthaler said.

Major beneficiaries will be the Red Cross and Médecins Sans Frontières (Doctors Without Borders), which is assisting local health institutions provide patient support and training medical staff. The rest will go to other partners of the Swiss Re Foundation, which will also match employee donations to Médecins Sans Frontières.