The Bermuda Foundation for Insurance Studies has joined forces with a local actuarial consulting and reinsurance brokerage company to give awards to students who pass their actuarial exams.

BFIS said the awards, sponsored by Ordinance Holdings Ltd., will be given to students enrolled in a full-time undergraduate programme leading to an actuarial career and who successfully complete exams Part 1 to 4 sponsored by the Casualty Actuarial Society.

The details of the award can be found on the BFIS website at www.bfis.bm.

Ordinance president Guy Cloutier said: “I am committed to help develop local actuarial talent in Bermuda and am pleased to offer a monetary award to Bermudian students that recognises their effort and achievement.

“Although we are a small company, we hope to take on one of the award winners to work alongside myself as a summer intern.

“These exams are very demanding and it is in the early years that students need most an encouragement.”

Dr. Scott Bradley, BFIS trustee and Fellow of the Casualty Actuary Society said: “Students normally take at least two of these exams while also studying for their undergraduate degree in college, and assisting Ordinance Holdings in promoting them to students through the extensive BFIS network is a natural extension of the BFIS scholarship, mentoring and intern programmes.”

Dr. Bradley said when students graduate and enter the work force their companies will usually underwrite the cost of the remaining exams which lead to becoming a fully accredited actuary.