A charity backed by Bermudian insurance firms handed out a total of $293,000 in scholarships.

The Bermuda Foundation for Insurance Studies gave out the awards to 13 students at a special reception.

Gail Martin, chairman of the BFIS board of trustees, said: “The Foundation was created with the purpose of providing financial support and guidance for Bermudian students so that they might have the opportunity to obtain the appropriate education and training in order to pursue an insurance-related career.

“A large component of this is achieved through annually awarding scholarships to outstanding students pursuing studies relevant to the insurance industry.”

The scholarships were presented at a reception at XL Catlin’s O’Hara House in Hamilton yesterday.

This year’s winners were Jevon Swan (finance / Nottingham Trent), Kayleb Butterfield (actuarial science, Western), Megan Knight (mathematics, St Andrews University), Carolyn Soares (business, Wilfrid Laurier), Kimika Jackson (insurance/risk management, St John’s), Jahstice Trott (accounting, Bermuda College), Dejanee Hill-Edwards (insurance/risk management, St John’s), Zoe Wright (economics, Bristol University), Tatyana Butterfield (insurance/risk management, Temple), Sinae Smith (actuarial science, Leicester), Marcus Bean (legal studies, Kent), Meagan Stecko (actuarial science, Western) and Linda Amaral (accounting, Queen’s).

Don Kramer, chief executive officer of ILS Capital and a BFIS trustee, presented the awards with BFIS scholarship committee member and former scholar Stephen Jones.

Mr Jones said: “Out of the 80 applicants, 30 students were selected for interview. The committee looks for students of outstanding ability, not only extremely sound academically, but also well-rounded, excelling in their individual pastimes of sports, music and philanthropic endeavours, who could clearly articulate their interest in a career in the insurance sector.”

The event also saw the first BFS Alumni scholarship, worth $10,000 and presented by Donita Stevens and Deniece Gordon, co-chairmen of the BFIS alumni committee, who said the cash had been raised through events held over the last year.

The total number of BFIS students at college is 32 — a funding equivalent of $613,000.

Since the BFIS awards started 20 years ago, 168 students have been granted scholarship funding and 136 graduates of the scheme are working in the insurance sector or related industries.