Bermudian-based Allied World Assurance Company Holdings Ltd has announced a partnership with the US-based Special Operations Warrior Foundation.

Through a newly created endowment, the company said, the partnership will establish the Allied World College Scholarship for children of fallen Special Operations personnel, deceased Special Operations Forces spouses, and all Medal of Honour recipients.

One student will be awarded the scholarship each year to pay for a portion of the cost of higher education. Eligible students can receive the scholarship for four years.

Lou Iglesias, president and chief executive of Allied World, said: “Allied World is proud to work with SOWF to honour Medal of Honour recipients and special operators that have made the ultimate sacrifice to ensure and protect our freedoms by providing educational opportunities for their children. We are humbled by the opportunity to provide this scholarship to these students and their families.”

Major General (Retired) Clay Hutmacher, president and chief executive of SOWF, said: “Allied World’s dedication to our mission is profoundly commendable.

“By establishing this scholarship endowment, they are extending invaluable support to the children of our fallen Special Operations personnel, SOF deceased spouses, and all Medal of Honour recipients.

“This partnership will provide these children with the educational opportunities they deserve, honouring their sacrifices and ensuring a brighter future.”