A partnership that plays a critical role in the development of a talent pipeline within the island’s insurance-linked securities industry is to continue in 2025.

Since 2017, ILS Bermuda has partnered with the Bermuda College as part of an education initiative which provides educational and work experience opportunities for college students.

It expands their awareness and knowledge of the ILS and insurance and reinsurance sector with the ultimate aim of forging network connections that enhance their potential to enter this critical sector of the Bermuda jobs market.

Since then, the initiative has broadened to include a funding partnership for paid summer internship opportunities with industry organisations exclusively for Bermuda College students where they can learn “hands-on”, gaining valuable work experience.

This year, five organisations participated — Bermuda Monetary Authority, Marsh Management Services (Bermuda), Hiscox ILS, Integral ILS and Price Forbes.

ILS Bermuda said its full-year education programme consisted of several modules: attendance at the annual ILS Convergence conference panels and networking events; lunch- and-learn modules where students volunteer and directly arrange sessions with industry participants while being supported by ILS Bermuda education committee members; and a one-on-one mentorship initiative, where mentors work individually with students to augment the knowledge imparted in practical group seminars in areas such as resumé and LinkedIn profile development, scholarship and internship application strategy and interview practice. Mentors also assist with general career developmental questions.

LaVonne Smith, ILS Bermuda education vice-chairwoman and senior vice-president, Resolute Global Partners, said: “We are committed to catalysing Bermuda College students’ chances of future employment opportunities by both providing a programme structure that provides relevant skills and education on topics needed to transition successfully to industry as well as creating invaluable network connections for students through the mentorship, lunch and learn and internship modules of the programme.”

Ali Arouzi, interim vice-president of academic affairs, Bermuda College, said: “The Bermuda College is extremely grateful to the opportunities that ILS Bermuda College Education Initiative has offered our students.

“Since [the inception of ILS Bermuda College Education Initiative] in 2017, Bermuda College students have benefited from pairing with industry mentors and have secured several internships. The lunch-and-learn sessions have proven to be a valuable instrument in helping students focus on their career interests.”

ILS Bermuda chairwoman Jo Stanton said: “An important part of our mission at ILS Bermuda is to encourage, support and mentor young Bermudians who are interested in this industry.

“We had an excellent group of students participate in our various education initiatives this year and we look forward to them continuing and completing their studies and joining Bermuda’s risk industry in the near future.”