The Bermuda Foundation for Insurance Studies has awarded $340,000 in scholarship funding to 16 students focused on careers in Bermuda’s insurance sector.

Since the foundation was founded in 1996 it has awarded more than $6.8 million, in scholarships, all funded by the insurance industry. This has assisted more than 200 students, many have gone on to careers in the insurance and related industries. There are currently 25 BFIS scholars at college.

The awards reception was held at O’Hara House courtesy of Axa XL. It was attended by more than 90 guests, including BFIS donors, trustees, committee members and alumni.

Stephen Jones, chairman of the BFIS board of trustees, explained that the foundation was created with the purpose of providing financial support to Bermudian students to give them an opportunity to obtain the education and training necessary to pursue an insurance-related career.

The programmes have expanded to include career guidance, mentoring and internships.

Jamie Botelho, trustee and scholarship committee member, recognised this year’s 12 BFIS graduates. A number are already working in the insurance sector, two will shortly take up employment and several are going on to further education.

Dr Duranda Greene, chairman of the BFIS scholarship committee said: “We received a total of 98 applications this year and from those selected 28 students for interview. The interview process is a difficult one — the scholarship committee looks for students of outstanding ability who are extremely sound academically and also well rounded, who excel in their individual pastimes of sports, music and philanthropic endeavours and who can clearly articulate their interest in a career in the insurance sector.”

BFIS Overseas Scholarships were awarded to: Conor Hay studying law at King’s College; Jude Moseley studying economics at Loughborough University; Naomi Proctor studying business at University of Bristol and Jackson Spurling studying economics at Dartmouth College; Dakota Lamb studying business at University of North Carolina at Greensboro and Théo Wolffe studying financial economics at Queen’s University.

Named scholarships, which BFIS administers on behalf of specific donor companies, were presented to: Meagan Stecko entering her senior year of actuarial studies at Western University — BFIS Alumni Association Scholarship (funded with money raised by BFIS Alumni mostly though their annual Denim Day); Yasser Baia, studying finance and law at University of Kent — BFIS AON Rhondelle Tankard Memorial Scholarship; Tahirah Cross, studying business at University of West Georgia and Jade Weaver, studying business at St Mary’s University — BFIS Argo Group Scholarship; Joshua DeAllie, studying law at University of West of England — BFIS Athene Scholarship; Jordan Payne, studying business at Bournemouth University — BFIS Colonial International Group Scholarship; Malaysia Thomas, studying insurance & RM at Georgia State University — BFIS Hannover Re Public Schools Scholarship; Nathan Cabral, studying Computer Science at University of Ontario Institute of Technology and Brian Darling, studying information technology at University of Warwick — BFIS MS Amlin Scholarship; and Zya Fraser, studying insurance & RM at Georgia State University — the Validus Scholarship.

Closing remarks were made by BFIS Administrator Jane Bielby and who each encouraged the new scholars to take full advantage of the many benefits of being part of the ‘BFIS family’ that go far beyond scholarship funding. Jane extended BFIS’s gratitude to AXA XL for the awards venue, to the donor companies for their wonderful continuing support and to BFIS’s Board, Trustees, Committees and the many professionals who volunteer their time.

BFIS alumni Helen Crisson advised students to: “Stay relevant by keeping in touch with BFIS through the year”, she also said: “You get out what you put in so take advantage of the networking events. Remember that BFIS will be with you from start to finish through college, summer jobs, internships, mentoring and full-time employment.”