Max Capital Group is to donate $75,000 to the Bermuda Sloop Foundation.

Angelo Guagliano, CEO of Max Bermuda, announced the commitment to give a helping hand to the charity's push to retire its $1.5 million construction mortgage on the Spirit of Bermuda by September.

"We recognise the complex social problems faced by Bermuda's youth and believe that the Foundation's progressive educational programmes can make a significant contribution to their resolution," said Mr. Guagliano.

"Max is pleased to be able to provide financial support to the Foundation and looks forward to a long and close relationship with Spirit. She is a magnificent vessel and a fine tribute to Bermuda's maritime heritage.

The announcement was made in front of 21 female students from Dellwood Middle School who enjoyed a five-day 'girls only' voyage on the ship.

Malcolm Kirkland, Bermuda Sloop Foundation executive director, said: "We are very grateful to Max for making a long-term social investment in Bermuda's youth, particularly during these very rough financial times."

The charity has presented Max Bermuda with a signed limited-edition print of Eldon Trimingham's painting of the sloop, framed in Bermuda cedar.

A spokesman for the insurance/reinsurance company said: "Max believes Spirit is also a fine ambassador for Bermuda overseas and is looking forward to hosting a corporate reception on board when she stops over in Boston during the 2009 Atlantic Tall Ships Challenge, celebrating Bermuda's 400th year of settlement."