the business community at a lunch this Friday.

The Bermuda Insurance Institute and the Bermuda Foundation for Insurance Studies are set to host the special recognition luncheon at the Hamilton Princess Tiara Room.

It will mark the achievements not only of graduates who have enjoyed scholarship assistance from the BFIS but also 1999 Bermuda graduates of the College of Insurance's MBA in Risk Management programme through the BII.

Course enrolments at the BII have increased in the past year by 20 percent to more than 300, with the number of people taking insurance exams that lead to professional designations rising significantly, a BII spokesman said.

Minister of Development and Opportunity Terry Lister will deliver the keynote address at the lunch.

Mr. Lister has played a key role in scholarship selection for another BFIS programme.

That organisation was formed two years ago to develop and coordinate the availability, direction and funding of the educational resources vital to the future of Bermuda's insurance industry.

Its aim was to ensure that over time Bermuda's insurance companies would have a pool of well educated Bermudian staff to draw from.

BFIS founding chairman Brian Hall explains: "Our dream of providing great opportunities for Bermudians, together with a stream of new recruits for the Island's burgeoning insurance industry is bearing fruit.

"And other students are poised to follow them in the years ahead.

"We see this as a first step, really, because some students will continue to pursue other insurance qualifications that will better prepare them for the future industry.'' In a recent letter to many in Bermuda's international business community, Mr.

Hall said it had been very rewarding for BFIS organisers to "witness the emergence of young professionals'' from the scholarship holders.

"We are now reaching a point where we can foresee a steady flow of qualified Bermudians joining the workforce who have benefited from their BFIS involvement,'' he said.

"Apart from the annual scholarships, our mentor programme ensures that as many students as possible are paired with industry professionals, and we assist the students in finding meaningful internships during the summer.

"At present many of the larger insurance companies have pledged to pay total amounts to BFIS ranging from $10,000 to $1,000,000 in annual instalments over a five year period.

"However, we would like to obtain support from all the insurance employers in the Island, as this will ensure that we reach our full potential with our endowment funds and our Islandwide representation.'' He said it was only in this way the body could "maintain the continuous development of competent, qualified employees for our industry''.

Those being toasted on Friday include ten graduates of the MBA programme in risk management at the College of Insurance in New York.

It was set up four years ago as a tailor made programme to allow those within the Bermuda insurance community to obtain the MBA degree while still on the job.

Another four students are expected to graduate next year.

Two other graduates each from Bermuda College, University of Hartford and College of Insurance will also be recognised on Friday.

BUSINESS BUC AWARD AWD