The Bermuda Foundation for Insurance Studies has awarded $210,000 in scholarship funding to 14 new scholars focused on careers in Bermuda’s insurance sector.

More than 70 guests attended the BFIS scholarship awards reception at O’Hara House on Bermudiana Road in Hamilton, courtesy of Axa XL.

Shellé Thompson, BFIS scholarship committee chairwoman, opened the event saying:

“When you become part of BFIS, you become part of a family.”

She encouraged the new BFIS scholars to take advantage of all that BFIS had to offer, such as career guidance, scholarships, internships, mentoring and job search.

Its mandate is to take students from the classroom to the boardroom.

“BFIS has a near-perfect record of placing students in the industry,” Ms Thompson said. “Many of the scholars it has supported are now giving back to the organisation.”

BFIS overseas scholarships were awarded to Cree Dunn, Jake Dunleavy and Ellie Cordeiro. Jehrai Tucker was awarded the BFIS Bermuda College Scholarship.

The BFIS Alumni Association Scholarship was presented to Ambya Smith.

Two new named awards were presented this year: the BFIS Ark Scholarship to Destani Warner, and the BFIS Convex Michael Butt Memorial Scholarship to Abigail Brewer.

Further named scholarships, which BFIS administers on behalf of donor companies, were presented to: Sydney DaPonte, BFIS Argo Group Scholarship; Isabella Murdoch, BFIS Aspen Scholarship; Chantae Wilson, BFIS Axis Scholarship; D. S. Malachi Dates, BFIS Fortitude Re Scholarship; Sydney West, BFIS Hannover Re Scholarship; Tyler Trott, BFIS L&F Scholarship; Cree Dunn, BFIS L&F Indemnity Scholarship; and Nasje Brockington, BFIS Relm Insurance Scholarship.

The L&F scholarships are also two new ones this year.

Outgoing Bermuda College president and scholarship committee member Duranda Greene closed the event.

In 1996 she was invited by BFIS founder Brian Hall to participate in the venture, which saw the Bermuda College partner with the College of Insurance (now St John’s University, New York).

“His vision was that BFIS would bring Bermudians into the industry,” Dr Greene said. “I am sure that he is shining down on us now, and very pleased with all that has happened.”

BFIS has awarded $8.4 million in scholarship money since its founding in 1996.

The total number of BFIS scholars at present is 25, which is a funding commitment of $355,000. BFIS has now assisted 258 students with scholarship funding, with ten BFIS scholars graduating this year.