Thirteen top Bermudian students attending university abroad and planning to pursue careers in insurance have been presented with scholarships by the Bermuda Foundation for Insurance Studies (BFIS).

The scholarships ranged from $30,000 a year for four years, to $10,000 a year for two years, with the combined total value of the awards being $530,000.

This year, at a reception hosted by Alterra Capital Holdings Ltd., in addition to all the undergraduate awards, BFIS also presented awards for postgraduate studies for the first time. On hand to congratulate the students was the Minister of Education Elvin James and more than 60 guests, including the Shadow Minister of Education Grant Gibbons, insurance industry leaders, BFIS trustees and graduates, as well as the students' families.

BFIS Scholarship Committee chairman Gino Smith said: "This year applications for our scholarships increased for the third year running by some 30 percent, with 98 students applying. The calibre was very high this year and the committee found it very gratifying to know that our small community has so many gifted and bright students. The process for choosing who to award scholarships to is never easy, but in the end it comes down to academic ability, extra curricular activities, community involvement and enthusiasm to succeed. "

BFIS chairman Michael Fisher said: "Since 1996, BFIS has awarded $3.65 million to over 100 students. None of this would be possible without the generosity of our pledged members and donors. It is that financial support, coupled with the generous donation of time and effort, by our board of trustees and committee members that allow us to continue assisting young Bermudians to pursue an education and fulfill their dream of finding a challenging career back home in Bermuda.

"It is particularly rewarding to BFIS and the Trustees to see some of our past scholarship recipients, like Gino Smith and Stephen Jones, actively participating in the review and scholarship recipient selection process."