criteria for its scholarships to include students of finance.

The decision was made at the BFIS' annual general meeting, and was announced yesterday.

The BIFS said that due to the convergence of insurance and finance applications to the management of risk, insurance companies are now looking to recruit graduates with finance degrees as well as those with insurance degrees.

Since BFIS was founded in 1996, only those students who were majoring in insurance or actuarial science could apply for a BFIS scholarship.

Now students who wish to major in finance, while taking some courses in insurance, will find they can also apply for the $15,000 per annum scholarships.

BFIS Chairman Brian Hall said: "This new step will enlarge the pool of students we are able to assist in addition to meeting the needs of our donors.'' BFIS annually awards three scholarships, worth $15,000 per year for two years, to students in their Junior or Senior years at overseas universities. It awards a further three scholarships each year, tenable for two years, to students studying for their Associate Degree at Bermuda College.

BUSINESS BUC