Ten students studying corporate law, computer science and accounting received scholarships through the Bermuda Foundation for Insurance Studies (BFIS) earlier this week. The scholarships range from $15,000 to $30,000 a year for up to four years' study at overseas universities.

BFIS is focused on helping students find their way into the insurance sector workforce through scholarship funding, career advice, mentoring, internships and job search assistance.

Chairman Emeritus Brian Hall, who helped set up BFIS 12 years ago, said that because of the increase in corporate donors, BFIS has been able to increase and expand the BFIS Scholarship programme to better meet the increasing costs of higher education.

"We have succeeded in what we set out to do," he said. "We wanted to give young Bermudians the training so that they could play a significant role in the insurance industry. To date 86 students have gone through our programme.

"We have committed $2.9 million to developing these young people. They are the future of our insurance industry."

BFIS president Paul Simons said: "This year we received twice as many scholarship applications as last year. In total we received 50 applications - the most we have ever recieved - from so many bright and interesting young Bermudians.

"The selection process was very difficult, but in the end it comes down to academic ability, personality and enthusiasm to succeed."

One of the recipients, Stacy Oughton, said she was delighted to have been awarded the scholarship.

"I have had my CV on the BFIS website for years, and worked with them through another summer job I had," she said. "I decided to apply for the BFIS Mount Saint Vincent University Bermuda College Scholarship after one of my teachers recommended it.

"I received my Associates in Business Administration, with merit, and will be starting my Bachelors in Business Administration in September. I will be taking the classes at the Bermuda College as they have a special system set up with Mount Saint Vincent. "The whole BFIS process was great. There were a number of people in the interview room when I went in, but they were so nice that I didn't feel nervous."

The other recipients were Timothy Fox, who won the BFIS Signature Scholarship, which is $120,000 over four years. Maryssa Gabriel, Ade Brown and Chelsie Mayeaux each won BFIS Overseas Scholarship valued at $50,000 over two years. Christopher Abraham won the BFIS Ariel Re Scholarship for $75,000 over three years.

Travis Stephens won the BFIS Colonial Group International Scholarship, $50,000 over two years. Akira Robinson won the BFIS World Insurance Forum Scholarship, valued at $50,000 over two years. Kyle James won the Patricia Steinhoff & Earlene Ming BFIS March Bermuda Scholarship which is $30,000 over two years and Nakia Foggo won the BFIS Scholarship, worth $20,000 over two years.

This year's scholarships are worth a total of $503,000 - an increase of $75,000 over last year. There are also previous BFIS recipients who are still enrolled in universities.