Studies -- BFIS -- and has pledged to donate $50,000 over the next five years to the foundation's endowment fund.

The BFIS endowment fund, which aims to reach $6 million, is used to provide ongoing scholarship assistance and other support to Bermudian students who plan careers in the insurance industry.

Scholarships are provided for degrees in insurance, actuarial science and finance, supported by mentoring and job search programmes.

Graham Pewter, president and chief executive officer of Commercial Risk, said: "We are delighted to take part in this industry initiative, not only by way of making a five-year pledge, but also through the efforts of our personnel.

Our senior vice president and general counsel, Chris Sposato, is a BFIS trustee and an acting member of the steering committee.

"I am a mentor to a young Bermudian, Wendell Hunt, who is currently studying at the College of Insurance.''