Giovanni Hollis, a Bermudian university student, has been awarded the 2022 BFIS CG Insurance Alan Peacock Scholarship.

The award is valued at $25,000 for two academic years, totalling $50,000.

Mr Hollis is a junior at Northeastern University, pursuing an industrial engineering major and a double minor in healthcare systems operations and mathematics.

In addition to his current studies, he is also interested in technology product management, finance and consulting.

Mr Hollis’s long-term goals are to gain experience and knowledge to benefit his island home.

He said: “With Bermuda being so small, there comes a time when students need to venture abroad to gain global perspectives and education.

“I’m so happy that CG is investing in my future with the scholarship I’ve been awarded. I plan to use this support to eventually be able to greatly impact Bermuda with my expertise.”

CG said the scholarship is made possible through a longstanding partnership with the Bermuda Foundation for Insurance Studies.

Each year, BFIS helps to facilitate scholarships from its own organisation as well as various sponsors.

This year, the company said, the CG Insurance Alan Peacock Scholarship was the only scholarship offered by a traditional insurer with the largest financial reward.

A BFIS spokesperson said: “We have greatly appreciated CG Insurance’s strong support for BFIS for many years. CG has provided scholarship funding to no less than ten BFIS scholars since 2006.

“It has been great to partner with a local company who truly appreciates the work that BFIS undertakes in assisting students to gain the education necessary to work in the insurance industry. It is pleasing to know that they will continue to provide support to Giovanni as he completes his education.”

Katherine Cupidore, CG’s chief people officer, said: “At CG, we believe education is paramount to the development of our communities.

“We are dedicated to providing meaningful opportunities that foster and encourage our local students to pursue their educational goals. We wish Giovanni every success and look forward to his future achievements and endeavours.”

The scholarship is awarded biennially with applications accepted from April to June and scholarships awarded in July.

Applicants are selected based on a written essay, academic and extracurricular achievements, course(s) of study, and financial need.

Shortlisted applicants are interviewed by the BFIS scholarship committee, all of whom are BFIS scholarship alumni, and a member of the CG executive team.

The scholarship is for students pursuing undergraduate studies geared towards the insurance industry with areas of study (but not limited to) being actuarial science, business or commerce, economics, insurance, mathematics or risk management.