A Bermuda-based international insurer has awarded overseas residencies to two Bermudian business graduates.

Students Nicholas Butterfield and Jaime Ferrari-McComb have been sponsored by Lancashire Insurance to live in London and work in the company’s office there for the next two years.

The two are the inaugural candidates for Lancashire’s graduate development programme, launched in December and backed by the Lancashire Foundation.

The programme is “committed to giving back to the community by assisting newly-qualified Bermuda resident graduates to gain the experience necessary to successfully attain a future position in the insurance and reinsurance industry in Bermuda”, a company spokeswoman told The Royal Gazette.

Mr Butterfield graduated from St John’s University in New York. He obtained a BSc majoring in risk management and insurance, with a minor in international studies.

Ms Ferrari-McComb graduated with an MSc in insurance and risk management from Cass Business School, where she was co-president of the school’s Insurance and Risk Management Society, as well as a member of the Cass Women in Business Society. She also holds a BA in management, with a focus on tourism, from the University of Exeter.

Both successful candidates interned at the Bermuda Foundation for Insurance Studies in the summer of 2013.

Their London residency will provide an immersion in underwriting and general work experience in the field.