The Certified Property Casualty Underwriters Association (CPCU) – Bermuda Chapter has increased its Annual Education Awards Fund to $3,000, from the usual $1,500. According to reports, Ariel Re sponsored the additional $1,500, enabling CPCU-Bermuda to accommodate another scholar this year.

This annual scholarship helps students pay for their CPCU exams. On top of assistance with exam fees, the CPSU Scholarship also provides support and guidance for the future Casualty Underwriters exam process, as well as free access to Bermuda CPCU Association networking and education events.

According to scholarship officials, the scholarship aims to ease the financial burden on students taking CPCU examinations and provide support and guidance to those who want to succeed in their careers in the reinsurance industry. The scholarship also serves as an opportunity for Bermuda to expand its talent pool.

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“Bermuda is a unique market for an important and fulfilling industry, where leading global reinsurers coexist within just a few minutes’ walk of each other,” a CPCU spokesperson said. “The Diversity and Inclusion Committee is dedicated to increasing access and expanding Bermuda’s talent pool, ensuring the industry’s employee base grows in diversity and representation of individuals from all backgrounds.”

Starting in 2022, the scholarship fund was co-founded by CPCU Head of Diversity and Inclusion Jay-Lynn Haynes (pictured) with Jenna Burrows, and has helped reinsurers advance their careers ever since. He stated that the scholarship is also a way to give back to the community.

“One of the greatest things you can do in life is help others, no matter what position or job title you hold,” Hines said.

Hines said she is proud of how far the careers of Jaretta Bassett and Tonika Hayward, who received their scholarship awards in 2022 and 2023, respectively, have come.

Meanwhile, interested parties can send their requests via email to (email protected), along with their updated CV and short personal statement. Applicants must be 18 years or older, Bermudian or permanent resident of Bermuda (certificate of permanent residence must be provided), and interested in the reinsurance profession. The application deadline is July 1, 2024.

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