The charity established to cultivate a Bermuda workforce for a growing international insurance market turns 30 this year and remains on mission, already assisting hundreds of Bermudians chart a path to a career in the industry.

The walls of the boardroom of the Bermuda Foundation for Insurance Studies are covered with the photos of 300 students who earned scholarships from the education charity.

But the island is full of many more who benefited from vital support such as mentorship, networking and career development.

Some $9.2 million in support money has been given to those moving towards their career in the industry.

Executive director of BFIS, Victoria Cunningham, a Chartered Property Casualty Underwriter and Associate in Reinsurance, spent more than two decades in the industry and many years on the charity’s board and committees before taking over the reins.

She said BFIS and other initiatives led to major changes in industry employment: “Back in the 80s and 90s, maybe five per cent of the industry was Bermudian. I would say now we are sitting at 60 to 70 per cent are Bermudians.

“That’s a huge testament to the investment these companies have made in Bermuda, but also to the talent that is coming out of our high schools and our students at university that can push through those barriers and make it into these leadership positions.

“We do have a number of C-suite titles within our alumni.”

The Foundation was created in 1996 by Bermuda insurance industry leaders with the goal of providing opportunities for Bermudian students to gain the education and training necessary to enter the insurance sector.

Ms Cunningham said the Foundation’s outreach stretches into the high schools, where its clear that the teenagers are listening.

“We’re in a unique situation,” she said, “where our students spent their younger years playing football on pitches with international company sponsorship (on the hoardings) around the place.

“They see the big buildings in town, they see the logos. So a lot of them know it’s there. From our perspective, its ensuring that they can see that there is a pathway for them.”

BFIS scholarships are annually awarded to students who are Bermudian or permanent resident certificate holders who are planning careers in insurance and studying subjects relevant to the industry.

The scholarships have increased in number, scope and dollar amounts over the years to match increased tuition costs and the growth of the industry.

The BFIS mentoring programme matches undergraduate and postgraduate students planning or starting a career in insurance with young insurance professionals.

The BFIS intro to insurance summer intern programmes broaden undergraduate students’ knowledge of the insurance industry through two- to three-week intensive, structured internships in Bermuda, London, Chicago and Atlanta.

The charity also provides career guidance to high school students, undergraduate students and career changers needing information about careers in the insurance industry.