BFIS awarded $482,000 in scholarship funding to 15 students this week — bringing the total the Foundation has given out since it was formed to $5.075 million, all funded by the insurance industry.

Over 60 guests attended the Bermuda Foundation For Insurance Studies Scholarship Awards Reception on Wednesday evening, to congratulate this year’s 15 scholarship recipients. They will be joining 13 continuing BFIS scholars bringing the Foundation’s combined scholarship funding commitment of $735,000.

This year also saw ten BFIS scholars graduate with five joining the workforce, two taking time to travel before starting work and three returning to take their Master’s degrees.

At the awards presentation reception sponsored by Markel Corporation and held at Markel House, Gail Martin, vice-president of BFIS, said that “The Foundation was created with the purpose of providing financial support and guidance for Bermudian students, so that they might have the opportunity to obtain the appropriate education and training in order to pursue an insurance-related career.

“A large component of this is achieved through annually awarding scholarships to outstanding students pursuing studies relevant to the insurance industry.”

Presenting the awards was chairman of the BFIS Scholarship Committee and president of Bermuda College, Dr Duranda Greene, who pointed out that the Scholarship Committee are almost all former BFIS scholars themselves.

She went on to say that 30 students were selected for interview out of a total of 89 and that the committee was looking for students of outstanding ability, not only extremely sound academically, but also well rounded, excelling in their individual pastimes of sports, music and philanthropic endeavours, who could clearly demonstrate their interest in a career in the insurance sector.

She also noted that financial need was taken into consideration after all other criteria had been met.