Hamilton, Bermuda (July 11, 2022) — The Association of Bermuda Insurers and Reinsurers (ABIR) today announces two new scholarships, offered in conjunction with member companies Arch Capital Group Ltd. and RenaissanceRe Holdings Ltd., to support Bermudian students through undergraduate programmes at one of the world’s most prestigious risk management schools.

The first ABIR Scholars are 2022 Bermuda College graduates Kallan Richardson, the ABIR/Arch Scholar, and Miguel Simas, the ABIR/RenaissanceRe Scholar. The significant awards will fund their tuition for two years at St. John’s University’s Maurice R. Greenberg School of Risk Management Insurance and Actuarial Science (GSRM) in New York.

The scholarships are the latest product of the strategic partnership between ABIR, Bermuda College and St. John’s University, which has also delivered a foundation re/insurance course at Bermuda College in 2021 and 2022, and dozens of internships at Bermuda’s leading insurers and reinsurers. The aims of the partnership are to strengthen the pipeline of local talent into the re/insurance industry and to attract future Bermudian leaders from diverse backgrounds.

Kallan, 16, completed the two-year Associate of Actuarial Science programme at Bermuda College with GPA of 3.5. As a dual enrolment student, he also graduated from The Berkeley Institute. In the fall, he will transfer with advanced standing to pursue a Bachelor of Science degree in Actuarial Science at St. John’s University GSRM.

Kallan is an intern at Arch, where he is gaining first-hand experience working with actuaries. The opportunity arose after Marc Grandisson, Arch Capital’s CEO and the Chair of ABIR, spoke at Bermuda College to students including Kallan in January this year.

Kallan said: “I connected with Marc and he invited me to breakfast. He was very friendly and approachable, took a real interest in my career goals, and from there, I was able to get involved with Arch. I started working part-time there in March and full-time since May, when I completed my course.

“I want to become an actuary – the mathematical intensity of the work intrigues me. I am grateful to Arch for their support, which gives me a great opportunity to prepare for my future career. My experience at Bermuda College has prepared me well to go away to a leading university at a young age.”

Miguel, 19, a graduate of CedarBridge Academy graduated from the Business Administration programme at Bermuda College with a cumulative GPA of 3.5. After spending the summer interning in the re/insurance industry, he will study Risk Management and Insurance at St. John’s University.

Miguel said: “This scholarship will allow me to attend my dream school. It’s made all the difference to me. I really appreciate that RenaissanceRe believes in me and has chosen to invest in my future and make it possible for me to go to St. John’s.

“Bermuda is a global re/insurance hub, so as a student growing up here, I was interested in exploring the industry and seeing if there was a path for me. I found that there was a path, and RenRe’s investment in me will allow to take the risk management route. My ultimate goal is to be an underwriter.”

Marc Grandisson, Chief Executive Officer of Arch Capital Group and Chair of ABIR, said: “Kallan is an exceptionally talented and mature young Bermudian, who has the potential to have a great career in the re/insurance industry. He has earned his selection as one of the inaugural ABIR scholars and I am proud that Arch will be supporting his education at St. John’s University.”

Kevin O’Donnell, CEO of RenaissanceRe Holdings Ltd., and Past Chair of ABIR, said: “RenaissanceRe is delighted to support Miguel’s education as he pursues his goal of a career in the re/insurance industry. Miguel is a very deserving recipient of the first ABIR/RenaissanceRe Scholarship award and exemplifies the qualities we look for in future leaders. We wish him well on the next phase of his academic journey.”

Kallan and Miguel will be presented with their scholarships at a reception hosted by ABIR on Tuesday evening. Among the guests will be 58 interns working at ABIR member companies this summer, re/insurance executives and representatives of Bermuda College, St. John’s University and the Bermuda Government.

Dr. Phyllis Curtis-Tweed, Vice President of Academic and Student Affairs at Bermuda College, said: “Congratulations to Kallan and Miguel. We welcome the new ABIR scholarships that will support them, and future graduates of Bermuda College, on their continuing educational journeys. Our symbiotic partnership with ABIR serves to combine education and opportunity to unlock the potential of many young Bermudians.”

Dr. Mark Browne, Faculty Chair of the Greenberg School of Risk Management at St. John’s University, said: “St. John’s University’s Greenberg School of Risk Management is pleased to partner with ABIR and Bermuda College to further the education of Bermudians to be the future leaders of Bermuda’s international insurance and reinsurance sector.”

John Huff, President and CEO of ABIR, said: “I congratulate Kallan and Miguel on becoming the first ABIR Scholars and thank Arch and RenaissanceRe for their generous support in making these potentially life-changing awards possible. ABIR’s strategic partnership with Bermuda College and St. John’s University is already bearing fruit in attracting Bermudians from diverse backgrounds to the re/insurance industry, in line with our commitment to diversity, equity and inclusion.”

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About ABIR: The Association of Bermuda Insurers & Reinsurers (ABIR) represents Bermuda’s major property and casualty insurers and reinsurers doing business in 150 countries. ABIR members have contributed a significant $8.5 billion to the Bermuda economy over the decade ended 2020. Bermuda is an internationally recognized center of global expertise on underwriting for catastrophe, climate, cyber, mortgage & credit risk transfer products, along with other specialty insurance and reinsurance. For more information, please visit: www.abir.bm. Follow us on Twitter @ABIR_Bermuda.

Photo caption – L to R:

 Marc Grandisson, Chief Executive Officer of Arch Capital Group and Chair of ABIR

 Kallan Richardson, ABIR/Arch Scholar 

 Miguel Simas, ABIR/RenaissanceRe Scholar

 Kevin O’Donnell, CEO of RenaissanceRe Holdings Ltd., and Past Chair of ABIR