The Argus Group has launched a scholarship award in the name of veteran Bermudian insurance executive Sheila Nicoll, who retired from chairing the Argus board last year after 10 years in the role.

Ms Nicoll had served on the board for 15 years in total after a long career in various roles in Bermuda’s international insurance industry, including as a member of the Insurance Advisory Committee, a statutory board under the 1978 Insurance Act.

After reading at Oxford, she enjoyed a 40.year career including heading five different companies and serving on the board of ten.

“The Sheila Nicoll Award has been created to honour the remarkable contribution that Sheila has made to Argus,” said group CEO Alison Hill.

“She has been with us through times of great success as well as great challenges. Her wisdom and guidance are, in good measure, responsible for the company’s current sound financial and operational footing, as well as the opportunities for growth and development that lie before us.

“This award is valued at $15,000 a year for a period of up to three years. It will support the studies of a Bermudian, or one who holds a Permanent Residency Certificate, who is entering an accredited institution in the 2022-2023 academic year to pursue an undergraduate degree in insurance, risk management or a related field of study.

“In the meantime, we’re delighted that we have the opportunity to not only honour Sheila’s legacy but also demonstrate our enduring commitment to the Bermuda community and its future by investing in the careers of the island’s young people.”

Ms Nicoll’s four decades of experience in the insurance and reinsurance industry has included work in Bermuda, London and New York.

She holds a Master of Arts degree in chemistry from Oxford University and is a Fellow of the Chartered Institute of Insurance in the UK.

Argus invites applications from undergraduate students who are studying actuarial science, business, economics, finance, insurance and risk management, mathematics, pure science, biology, chemistry, information technology, engineering and environmental sciences.

Argus said the student must be outstanding academically and demonstrate a financial need.

The $15,000-a-year award is granted annually for three years, and the successful applicant will also be offered holiday employment opportunities with Argus during school breaks.

Ms Hill said: “The Sheila Nicoll Argus Award honours and recognises the outstanding contribution that Sheila made to the Argus Group. We are grateful for her enduring commitment to the company and to Bermuda. This is a fitting way to show our appreciation and look forward to offering this award to a deserving student.”

The award application form can be found at argus.bm/ourfutureisyou or on the Bermuda Scholarships website

The deadline for submission is 29 April 2022.