BFIS Awards $4.6M In Scholarships Since 1996
Since being founded in 1996, the Bermuda Foundation For Insurance Studies [BFIS] has now awarded more than $4.6M in scholarships to 129 students, 93 of whom have graduated and are working in the industry.
Michael Fisher, BFIS Chairman said, “Our scholarship programme is well recognized in the community, but so too are the intern, mentoring, career guidance and job search activities that BFIS undertakes, where the most significant increase has been in the career guidance and job search arena.
“We have noted that it has become much more difficult for many of our returning graduates to find immediate employment. We are pleased to note that all 5 of our 2013 graduates have secured full time employment.”
Pictured are some of the attending BFIS Trustees and Committee members [left to right] Beth Piggott, Catherine Lapsley, Jonathan Allen, Carla Whitehurst, Deanna Williams, Jill Husbands, Konrad Rentrup, Michael Fisher, Terry Pimentel, Rees Fletcher, David Skinner and Gail Martin.
Mr. Fisher went on to say, “The efforts of our Finance Committee under the leadership of David Skinner in consolidating the investment portfolio allowed us to capitalize on improvements in the market and achieve a cash flow adjusted return of over 10% for the 2013 financial year, allowing us to fund operations and even realize some growth in the overall portfolio.
“However, it is still concerning that, even with more companies commencing operations in Bermuda, we note the donation activity to BFIS is still well below historic levels.
“That said, we are very pleased that we did receive first-time donations from a number of established companies in 2013. These included Deloitte, Enstar, Island Employment Partners, Lancashire, Tokio Millennium Re and WindRiver Re.
Mr. Fisher noted that BFIS is most appreciative of not only the funding from sponsors but also the volunteer hours which many of their representatives give to the Foundation. To have their industry expertise so generously donated to BFIS is a unique and tremendous resource, one without which BFIS would not be able to function effectively.
He went on to thank two BFIS Trustees who have stepped down, Meredith Head [thirteen years] and Tracy Keill [eleven years] who had given tirelessly of their time since first joining the [then] Steering Committee, and BFIS Mentor Networking Committee members Rebecca DaPonte [six years] and Jennifer Araujo [five years].
Mr. Fisher stated that ties with two insurance-focused organizations which BFIS liaises with regularly have been formalized with their representatives, Victoria Cunningham of the CPCU Bermuda Chapter and Candace Roach of Bermuda Under-40s joining the Mentor Network Committee.
Guest speaker during the lunch that followed the AGM was CEO of Catlin, Graham Pewter, who gave a fascinating insight into the Catlin Seaview Survey and its potential for education.
The full report follows below [PDF here]:
