The Bermuda Foundation for Insurance Studies has awarded $287,000 in scholarship funding to 12 students focused on careers in Bermuda’s insurance sector.

This brings the total amount of funding that the Foundation has awarded since the charity was founded in 1996 to more than $7.8 million, all funded by the insurance industry.

The total number of current BFIS scholars now at college is 32, with a funding commitment of $522,000.

To date, BFIS has assisted 245 students with educational funding and most alumni are employed in the insurance sector and related industries.

An awards presentation was held at the Cathedral of the Most Holy Trinity, with the new awardees joined by their families, BFIS donors, trustees, committee members and alumni.

The foundation was created by the late Brian R Hall OBE with the purpose of providing financial support to Bermudian students to give them an opportunity to obtain the education and training necessary to pursue an insurance-related career.

To achieve this, BFIS annually awards scholarships to outstanding students pursuing studies relevant to the industry.

In his memory, BFIS is awarding the Brian R Hall Memorial Scholarship this year to the first recipient, Solomon O’Connor, a freshman studying Business at King’s University.

BFIS Overseas Scholarships were awarded to Jordan De Shields, a senior studying economics at Kingston University; Najiyah Raynor, a freshman studying finance at the London Institute of Banking & Finance.

Rickai Burrows, a junior studying business at Mount Saint Vincent University via Bermuda College, was awarded the BFIS Bermuda College-Mount Saint Vincent University Scholarship.

Named Scholarships, which BFIS administers on behalf of specific donor companies, were presented to: Thomas Evans entering his freshman year of legal studies at Lancaster University – BFIS Alumni Association Scholarship (funded with money raised by BFIS Alumni); Megan Hands, a freshman studying actuarial science at University of Victoria – BFIS ARGO Group Scholarship; Courtney Bromby, a senior studying business at Wilfrid Laurier University – BFIS AXIS Scholarship; Giovanni Hollis, a junior studying business at Northeastern University – BFIS CG Insurance Alan Peacock Scholarship; Marley Hinds, a senior studying finance at Bryant University; Kyrie Parfitt, a sophomore studying actuarial science at University of Leicester – BFIS Fortitude Re Scholarships; Alex Pacheco, a sophomore studying business at Dalhousie University – BFIS MS Amlin Scholarship; and Jayden Williams-Woodley, a freshman studying computer science at Nottingham Trent University – BFIS RELM Insurance Scholarship.

Shellé Hendrickson, BFIS trustee and chair of the Scholarship Committee, closed the brief outdoor ceremony with advice to the new BFIS Scholars. She underscored the value of the BFIS network, advising them to take full advantage of all the BFIS programmes – mentoring, internships and job search.

She further encouraged them all to follow through with connections made with industry professionals and above all, attend all the BFIS events that are planned to: “Network, network, network!”

Also speaking at the event was Stephen Jones, chairman of the BFIS Board of Trustees.