The Bermuda chapter of the Chartered Property Casualty Underwriters Society has doubled its annual education award to $3,000.

Thanks to Ariel Re sponsorship, the CPCU is handing out two awards, each worth $1,500, to people pursuing their CPCU designation.

Ariel Re said that they were committed to being an “academy firm’” by developing and promoting talent.

The CPCU scholarship helps candidates pay for CPCU exams and provides exam process support and guidance, plus offers free access to Bermuda CPCU Society networking and education events.

The aim is to ease the financial burden of starting the CPCU exams and to offer professional support and mentorship.

“Bermuda is a unique marketplace for an important and fulfilling industry, where leading global reinsurers coexist within a few minutes’ walk of each other,” a CPCU society spokesman said. “The diversity and inclusion committee is dedicated to increasing access and broadening Bermuda’s talent pool, ensuring that the industry's employee base grows in diversity and represents individuals from all backgrounds.”

CPCU diversity and inclusion chair JayLynn Hines co-founded the award with Jenna Burrows in 2022.

Ms Hines said that from the beginning of her reinsurance career, she had been fortunate to have many people in the industry encourage her.

“These people were, and still are, instrumental to the growth of my career,” she said. “They include C-suite executives, managers, mentors, and more, and I truly believe that I owe a lot of what I have been able to accomplish thus far to their support and encouragement.”

She helped to found the award to pass on the favour.

“One of the greatest things you can do in life is to help others, no matter what position or title you hold,” Ms Hines said.

She said the 2022 and 2023 award recipients, Jarita Bassett and Toneka Hayward, had surpassed the CPCU’s expectations for them.

“I am proud to watch them grow in their careers,” Ms Hines said.

• To apply for the award e-mail BermudaCPCU@gmail.com with your resume and a brief personal statement. Candidates need to be 18 or older, Bermudian or have a permanent resident certificate, and must be interested in a career in reinsurance.

The deadline for applying is July 1