XL Capital's charitable arm, XL Foundation Ltd., has named students Zayna Foggo and Richard Hillen as its XL Insurance Scholarship recipients for 2004.

Ms Foggo, 20, and Mr. Hillen, 18, were among 21 applicants for the scholarship which is earmarked to help cover tuition, travel and living costs. XL did not divulge the value of the awards.

XL insurance scholarship committee chairperson Lisa Harvey Swan said: "The calibre of applicants this year was exceptional, and we are pleased to offer the scholarship to two most worthwhile recipients who are both interested in the field of actuarial science. Every year the competition gets stiffer and stiffer and this year it was very tough to make a decision."

Both students also worked as interns at XL during their summer holiday.

XL president and CEO Brian O'Hara said: "XL continues to seek the best of the best from our young Bermudians. Richard and Zayna have already achieved significant academic success and contributed valued time to the community. We are pleased to support them as they continue their endeavours and look forward to their contribution to Bermuda's insurance community."

Ms Foggo is currently in her second year at City University, London in the UK where she is studying for an actuarial science degree. Previously, Ms Foggo attended Mahindra United World College in India and the Berkeley Institute, Bermuda. She has been a United World Scholar and is an active participant in sports having been a member of Bermuda's junior netball team and a captain of her soccer, netball, and softball teams at Berkeley. Ms Foggo has also gained much from her philanthropic experiences at the Sofosh Orphanage in India as well as with Style and Fashion in Bermuda. Ms Foggo was also awarded a Bermuda Government Scholarship, but conditions required that she could only accept the funds from one of the scholarships, and she chose to accept the XL Insurance Scholarship. Ms Foggo said: "I have been fortunate to work for XL as a summer student the last three years. The XL Insurance Scholarship will take me one step further in helping me to achieve my goal of becoming an actuary."

Mr. Hillen is about to enter his first year at the Wharton Business School at the University of Pennsylvania where he aims to complete an undergraduate business program leading to an Honours Degree in a bachelor of science in Economics. Mr. Hillen previously attended Saltus Grammar School were he was head boy, senior year valedictorian, named 'Outstanding Teen of the Year' and also received the Headmaster's Prize for the best GCSE results.

Ranked the top junior debater in Bermuda, Mr. Hillen was also captain of the Bermuda national debate team at the 2004 world championships in Germany, and was also a member of the 2003 team.

Mr. Hillen has volunteered his time at the Bermuda Underwater Exploration Institute since 2000 as well as helping the Junior Service League with various events. Mr. Hillen said: "I was delighted and extremely humbled to receive the XL Insurance Scholarship. Along with the financial support, I receive accreditation from one of the leading (re)insurance companies in the world. The work experience I gained from working with XL in the summer will allow me to supplement my courses at Wharton with practical knowledge."