The Bermuda Foundation for Insurance Studies (BFIS), now in its 25th year of existence, has just awarded a total of $357,500 in scholarship funding to 18 students focused on careers in Bermuda’s insurance sector.

This brings the total amount of funding that the Foundation has awarded since the charity was founded in 1996 to almost $7.5 million, all funded by the (re) insurance sector.

At an outdoor ceremony at the Anglican Cathedral, Stephen Jones, BFIS chairman and a former Alumn, stated that BFIS has assisted a total of 233 students to date with educational funding, with almost all of its alumni employed in the (re) insurance or related sectors.

BFIS was first founded with the purpose of providing financial support to Bermudian students in order to give them the opportunity to obtain the education and training necessary to pursue insurance-related careers.

Mr. Jones said the goal is achieved by annually awarding both BFIS named and overseas scholarships to outstanding students pursuing studies relevant to the industry.

He added that with the Foundation celebrating its 25th Anniversary this year, the BFIS office has a ‘Wall of Fame’ with photos displayed of every scholar since its inception.

With the 18 new scholars the number of BFIS scholars currently at university stands at 31, with a total funding commitment of $505,000.

He stated that BFIS’ ability to offer scholarships and its other programmes is only made possible through the donations of the many companies in the insurance sector that have generously supported BFIS since its inception and he expressed very sincere thanks to all for their wonderful ongoing support.

The awards presentations were made by Dr. Duranda Greene, president of Bermuda College and chair of the BFIS Scholarship Committee, who congratulated each of the 2021 scholars.

She presented BFIS overseas awards to 8 students and was joined by representatives of various donor companies who awarded named scholarships to a further 10 students.

Shellé Hendrickson, head of healthcare at AXA XL and also a BFIS alumn, in her closing remarks extended congratulations to all the scholars.

She pointed out that BFIS programmes include career guidance, mentoring, internships and job search and encouraged the students to take advantage of all the programmes offered, especially mentoring which, like networking, is essential to professional development and advancement in the industry.

She said they are joining an organisation with impressive lineage, with a large number of alumni now holding senior positions within the industry.

She welcomed the 2021 Scholars to BFIS, expressing hope that they excel in their respective academic pursuits and move on to become tomorrow’s professionals.