Young Bermudian Jahde Tyrone Eve has been given a head start in business thanks to winning the 2007 XL Scholarship.

The 17-year-old from Warwick was chosen from 18 applicants for the award from XL's charitable arm, XL Foundation, and he will begin his undergraduate degree in Economics and Actuarial Science at New York University's Stern School of Business next month.

The four-year scholarship will go towards his tuition, travel and living costs expected to amount to more than $50,000 each year.

XL president and CEO Brian O'Hara said: "For the last 17 years, XL has been committed to developing Bermuda's future leaders through the XL Scholarship.

"I am always impressed by the calibre of the young Bermudians that we see and their scholastic and personal achievements.

"Jahde exemplifies all the qualities that XL looks for in its people: talent, hard work, dedication and leadership. I look forward to his future contribution to the Island's insurance market."

Accepting the scholarship, Mr. Eve said: "I feel privileged and honoured to be the recipient of such a prestigious award and I am humbly grateful to the XL Foundation for giving me the opportunity to pursue my studies overseas.

"I eagerly anticipate my re place in the international business arena."

He attended Port Royal Primary School between 1995 and 2000 and Warwick Academy from 2000 to 2005, where he was both a junior and senior prefect and an honours student as well as a member of the wind ensemble, junior band, concert band and full orchestra.

Mr. Eve played for the Under 13 and Under 16 football teams, representing Bermuda abroad, and for the Devonshire Colts Football Club. In addition to achieving a Bronze Medal in the Duke of Edinburgh program, he received a scholarship to attend a summer program at the Institute for Talented Students at Johns Hopkins University in 2004 and 2005.

In May 2007, he received his International Baccalaureate Diploma from the International College Spain in Madrid, where he participated in the Model United Nations Programme, serving as a member of the Student Council and was awarded the Economics and History Prize.

This month, Mr. Eve will attend the People to People Future Leaders Summit at Stanford University in California. He also accepted an invitation for membership to The National Society of High School Scholars, established by the Nobel family to recognize academic excellence and to encourage members to apply their unique talents, vision, and potential for the betterment of themselves and the world.

Since the inception of the XL Scholarship (formerly the XL Insurance Scholarship) in 1990, a total of $1.9 million has been provided to help Bermudians prepare for professional careers in the insurance industry. A condition of the award is that recipients be willing to return to Bermuda on completion of their studies.