Ten of Bermuda's brightest students planning to pursue careers in the insurance industry were presented with scholarships totalling $365,000 from the Bermuda Foundation For Insurance Studies (BFIS) at a reception yesterday.

The top scholarship is worth $30,000 a year for up to four years of undergraduate studies. Additionally, three $25,000 per year scholarships were awarded for up to two years, and there were two $15,000 per year for two years scholarships, three $10,000 and one $5,000 one-year scholarships.

Paul Simons, BFIS president and scholarship committee chairman, said: "This year's scholarship selection was especially hard as we had 65 applicants, the majority of whom were of a very high calibre.

"The process is never easy, but in the end it comes down to academic ability, extra curricular activities, community involvement and enthusiasm to succeed. Students who can demonstrate that they are well-rounded are those most likely to be awarded scholarships in this increasingly competitive environment."

BFIS executive director Catherine Lapsley said: "This academic year we will be paying out a total $446,000 to our 22 scholarship students. Altogether since 1996, BFIS has awarded $2.85 million to 92 students.

"None of this would be possible without the generosity of our pledged members and donors, the majority of whom are insurance-related companies. Insurance industry leaders started BFIS in 1996 in order to ensure that Bermudian students were able to attain the relevant education and training to start insurance careers".

BFIS provides scholarships to students focused on entering the insurance sector, as well as additional support and opportunities to students through its mentor network, summer internships in Bermuda and overseas, school presentations, career advice, job search, and resume review programmes.