Photo Credit: ABIR
Thanks to a new scholarship opportunity, two students from Bermuda will have the opportunity to fulfill a lifetime ambition and study at St. John’s University’s Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science (GSRM) beginning in Fall 2022.
2022 Bermuda College graduates Kallan Richardson and Miguel Simas are the first recipients of the Association of Bermuda Insurers and Reinsurers (ABIR) scholarships, part of a new scholarship program that will fund their St. John’s tuition for two years. Kallan, 16, and Miguel, 19, both completed associate degrees at Bermuda College with 3.5 grade-point averages.
The scholarship program is part of a partnership between the University, ABIR, and Bermuda College begun in 2020 and designed to enhance opportunities for students in Bermuda, a leading hub of the global insurance and reinsurance industries. The University has also sponsored a Basics of Risk Management course at Bermuda College and secured dozens of student internships with industry leaders on the island.
“The depth and breadth of our relationships with the companies in the insurance and reinsurance industries in Bermuda, with Bermuda College, and with Bermudian society is second to none,” said Brandon W. Sweitzer, Dean of GSRM. “These relationships benefit the students, the industry, and Bermuda itself.”
Through its predecessor, the College of Insurance, GSRM has had ties to Bermuda for decades. Formed initially as the Insurance Society of New York in 1901, it became the School of Insurance in 1947 and the College of Insurance (TCI) in 1962. GSRM evolved from the merger of TCI and St. John's University in 2001, creating the School of Risk Management, which was later renamed in honor of Maurice “Hank” Greenberg, former Chairman and Chief Executive Officer of C.V. Starr & Co., Inc., the Starr Insurance Companies, and The Starr Foundation. The academic programs are housed within The Peter J. Tobin College of Business.
The scholarship program is funded by ABIR’s member companies, who, with Bermuda College, nominate the students. Upon graduation, the students must commit to returning to work in Bermuda.
Kallan is an actuarial intern at Arch Reinsurance, Ltd. and will study Actuarial Science at St. John’s. Miguel is participating in a summer internship and will study Risk Management and Insurance, thanks to a scholarship from RenaissanceRe Holdings, Ltd. Both will begin their St. John’s experience as third-year students.
“This scholarship will allow me to attend my dream school,” Miguel said. “I’m pretty ecstatic about going to St. John’s. It’s the best school for Risk Management.”
“The scholarship gives me a great opportunity to further my education and to prepare for my future career,” Kallan added. “At 16, I know I am young to be going to the university, but I was doing six courses at Bermuda College and I feel that has prepared me well for St. John’s.”
Kathleen Sabella, Coordinator of Scholarship and Enrollment Programs at GSRM, helped to facilitate the Bermuda program. She said the University’s relationships with ABIR, its member companies, and Bermuda College and its students benefit all parties.
“The relationships are in all of our best interests,” she said. “For St. John’s, it’s a nice way to recruit from within a large industry base in Bermuda. For Bermuda College and its students, it’s another place for students to transfer to for a four-year degree. And these well-educated students come back to work in Bermuda.”