Axis Specialty Australia CEO David Smith is hoping for a big turnout and plenty of cash as he prepares to host a fundraiser for his “other passion” – the Children’s Cancer Institute.

Mr Smith is Chairman of the institute, which is holding its annual Diamond Ball on Saturday August 29 at the Royal Randwick Racecourse in Sydney.

Governor-General Peter Cosgrove will be guest of honour at the ball, which is expected to attract about 550 people, institute Head of Fundraising Anne Johnston told insuranceNEWS.com.au.

Auction prizes include a yellow sapphire and diamond ring, Emirates flights to Europe for two, dinner for 10 cooked in the winner’s home by celebrity chef Guillaume Brahimi, and a “chef’s table” dinner for eight cooked by Luke Mangan.

Money raised will aid research at the institute, based at the University of NSW. In Australia, 640 children are diagnosed with cancer every year.

Diamond Ball tickets are available here.