Law student Precious Smith has been awarded a $10,000 scholarship from the Bermuda Foundation for Insurance Studies.

The funds were raised by alumni of the BFIS during the annual alumni denim day.

And many of the companies and organisations who employ BFIS alumni helped through staff donations and corporate matching donations.

Recipient Ms Smith is a graduate of Berkeley Institute, and is entering her senior year studying law at the University of Buckingham in the UK.

This scholarship is awarded to a student studying a subject relevant to the insurance sector, and is based on academic excellence and financial need. It is solely funded with money raised by the alumni during their annual alumni denim day.

The BFIS alumni committee thanked the staff of companies who donated and those that gave matching donations. The organisations that helped were Allied World, Argo, Ariel Re, Aspen, Axis, BF&M, Bermuda Independent Underwriters Association, Bermuda Monetary Authority, Butterfield Bank, CedarBridge Academy, Chubb, Colonial, Deloitte, Everest Re, Expertise, Fidelis, Hiscox, Lancashire, Partner Re, RenRe, Sompo International, Tokio Millennium Re, Willis, XL Catlin and Zurich Bermuda.

In addition to the Alumni Scholarship, BFIS awarded a number of other scholarships this year, bringing the number of BFIS scholars currently in college to 32. Since its inception in 1996, BFIS has assisted 179 students with educational funding and 142 scholarship alumni are employed in the insurance sector and related industries.