Bermuda’s captive insurance industry took a major step towards nurturing local talent this week with the launch of a new $30,000 internship and scholarship programme, announced live at the Bermuda Captive Conference.

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Bron Turner, partner at KPMG Bermuda, revealed the first recipients of the KPMG Captive Scholarship as Kiara Burcher and Taj Lowery.

Mr Turner called the scholarship “a launch pad, a platform for mentorship, growth and leadership”. The initiative was developed in partnership with the Bermuda Captive Network.

“This scholarship was launched with a bold vision, to ignite interest, unlock potential and empower the next generation of Bermudians to thrive in the captive insurance industry,” Mr Turner told the audience. “It’s a commitment to building a pipeline of passionate, home-grown talent ready to shape the future of our industry.”

The programme offers a full rotational internship through KPMG’s audit, tax and advisory departments. Recipients will also take part in a secondment with a Bermuda-based captive insurer, gaining real-world experience in underwriting, claims, compliance and finance.

Seventy-four Bermudian students applied for the scholarship, but Mr Turner said the calibre of applicants made the decision especially difficult. “There wasn’t just one standout. There were several,” he said. As a result, two students were chosen in this inaugural year.

Ms Burcher attends the University of Western Ontario, where she studies mathematics. She is sitting her actuarial exams. Mr Lowery attends St John’s University, where he studies enterprise regulations with a minor in business administration and international studies.

The programme is expected to return next year, said Mr Turner, aiming to expand opportunities for young Bermudians seeking careers in international business.