Making a difference

When and how did the ABICEA programme start?

The ABICEA programme was started in 1977—six years after the formation of ABIC and in the early days of Bermuda’s emergence as an international centre. The early founders of ABIC recognised there was a need for world-class talent and that education was key.

Member companies contributed funds to establish the first awards, which went to four recipients. The longevity of the Education Awards programme speaks to the international business community’s commitment to invest locally and develop a Bermudian pool of talent.

How has it developed over the years?

Certain aspects of the programme remain true to the original core principles of supporting the careers of Bermudian students to ensure the sustainability of international business in Bermuda. The Education Awards continue to be funded by annual donations from international companies in Bermuda that are members of ABIC. Scholarship awards are based on a combination of the applicant’s financial need and academic ability.

Applicants must be Bermudian, have Bermudian status or a Permanent Resident’s Certificate. Consideration is given to the applicant’s specific career focus, awareness of the role of international business in Bermuda, and involvement in and commitment to the community.

Compared to 45+ years ago, we have been able to extend more scholarships to more awardees as the donations and commitment from our member base has grown and we now average 18 to 22 awardees per year.

Several memorial awards have been established to honour individuals who impacted the ABIC and international business community and to recognise those awardees who exhibit similar personal qualities. A postgraduate award has been added with no age restrictions and this has enabled recipients to continue their studies or go back to school as a mature student.

Richard Winchell was instrumental in developing the mentoring programme in 2008 which matches experienced professionals from our member companies with award recipients to provide personal, one-on-one support, knowledge sharing and advice to help them through their studies and in some cases into their careers.

In addition, interview training is provided to help all interviewees perform their best, not just in the ABICEA interviews, but for any other scholarship or job interviews they might attend.

In 2021, the programme introduced the ABICEA Alumni Award funded by ABICEA alumni which is granted to mature individuals seeking to enter the international business industry. So, while we stay true to our roots, we are always looking for ways to develop the programme and its reach with the funds we are entrusted with.

How would you describe its value for all participants?

This programme has changed the lives of some of the recipients and their families. If you read testimonies from the alumni or attend the awards banquet, you will meet remarkable students who are working hard to better their lives and make a career of Bermuda’s international business community who might not have been able to access the education needed without these funds.

In addition to funding, the students have access to a mentor, to the alumni network and often to the sponsor company of their award, all of which can lead to future opportunities. The experience is so impactful that many of the alumni have returned to volunteer and assist Greta.

In the last 10 years alone, ABIC member companies have donated $6 million to the ABICEA which speaks volumes to the benefits they derive from the programme. By providing education to students, it creates a career path for Bermudians to enter and thrive in the international business sector at all stages of their career.

Many of the member companies look to provide internships to the awardees and eventually their first employment opportunity. We’ve also seen many companies new to the Island look to the programme as a way to give back to the community and quickly set up scholarships through ABICEA by relying on the robust framework and infrastructure the programme has in place.

The programme benefits all the international business sector and Bermuda overall. The programme is helping Bermudians to get the education they need to come back home and have fulfilling careers and more financial success than they might have otherwise, which is then fed back into the community and the local economy.

The experience obtained in the Bermuda market stands up to that in any other financial services hub and many of the alumni now hold leadership positions in the industry. This keeps Bermuda’s local community growing and provides jobs for the next generation.

How do you see the awards programme evolving in the coming years?

In 2022, we awarded over $600,000 to 20 students, and 40 percent of applicants received funds. I can’t think of any other scholarship programme with that high a success rate and funding. In addition, almost all aspects of the programme from interviewing, selection and mentoring are done on a volunteer basis by people who care about the success of the students.

I’d love to say that we could help any qualified student who is looking for a way to get the education they need, so we can’t be complacent.

In international business there are cycles in the market and in mergers and acquisitions which affect our member companies and their funding abilities. As a result, we are constantly looking to grow our membership and the donations our member companies provide.

The Peters Winchell Postgraduate Award and our Alumni Award show we are constantly looking for gaps in scholarship opportunities and ways to fill those gaps. There is more education needed on all the opportunities within the international business community. People often think of underwriters and actuaries but there are many different roles to play and ways to enter the industry. I hope the awards will help bring more visibility to those pathways.

The programme was born out of the desire to invest and develop local talent and its success has been driven by the success of the awardees and by the continual reinvestment into the programme of time, commitment and funding. This will continue to drive it forward, and each year, we will find the ways to improve and learn and evolve and extend our impact.

How would you describe local talent on the Island?

One of the primary functions of ABIC is to link students with opportunities in international business ensuring the growth of the industry and benefits to Bermuda. This includes highlighting the many roles within the industry where Bermudian students can target their learning. From finance to accounting, legal to actuarial, IT to HR as well as underwriting there is enormous scope. The talent is there in our young people—ABIC serves as a bridge between them and the opportunities the industry offers.

What are the educational opportunities and challenges faced by young Bermudians?

Many of the students assisted by ABIC are the first in their family to consider international business as a career. This means they do not always have in-depth knowledge of the range of opportunities. Outreach by ABIC into middle and high schools alongside targeted marketing has aimed to fill in gaps. The mentor and intern opportunities the member companies provide open up possibilities to students.

The Bermuda College is a gateway for students and can reduce the financial burden on families. Some students who are initially unsuccessful in ABIC interviews attend the College, learn more about the industry and become successful when they reapply.

What expectations does ABIC have of its scholars?

When students apply for awards, a partnership begins. We seek information from them in order to determine their readiness for the programme of study they have chosen. It may be necessary to follow up and refine information with the students to permit them to present themselves as positively as possible.

We want our scholars to succeed and for Bermudians to join the industry. We provide workshops on interview techniques, for example. Communication with students and between the scholars and their mentors supports this success. We expect our scholars to support others when they assume mentoring roles themselves.

What have been some of the highlights of administering the ABICEA programme?

Seeing scholars join and succeed in member companies. The programme is always developing to keep a flow of local talent into member companies. We have added new programmes such as Virtual Enterprises International and our database captures information about our scholars. The awards luncheon is a highlight each year when you see the pride that families have in their students.

Receiving the Peters Winchell Postgraduate Award is a humbling honour. The past 24 months have been challenging for my family and me, and I am extremely grateful to the ABICEA selection committee for trusting me with these funds.

I will attend Northeastern University in Boston, MA, over the next two years to pursue my Master’s in global studies and international relations. Speaking with many of my mentors, friends, and family, it felt like a natural progression to my Dartmouth College undergraduate degree in psychology and environmental studies. I am confident that there is valuable information I can gain from working to understand how different countries, societies, and business sectors handle the vital world challenges of today and the future.

Today, there are several environmentally-conscious business opportunities within the international business sector, such as the rise in importance of environmental, social and corporate governance (ESG) factors, that I hope will allow me to combine my interest in financial services and environmental studies.

More long term, I hope to help other Bermudians with similar backgrounds and goals to my own. I was lucky to leave Bermuda at 14 years old to further my academic and athletic endeavours, which was an eye-opening experience. Leaving the Island forced me to step outside my comfort zone and subsequently grow mentally and emotionally. I hope to make pursuing educational opportunities away from Bermuda more obtainable and have already begun envisioning how this could be possible. More will be able to take advantage of scholarships as they become more readily available for Bermudian families.

I cannot thank ABIC, Ms Peters and Mr Winchell enough. The funds from this Postgraduate Award will be vital in ensuring I have the food, housing and educational support necessary to thrive in every aspect while at Northeastern.

It is truly an honour to be awarded the Peters Winchell Postgraduate Award. This award symbolises to me the fruits of my labour in pursuing my accounting career. Receiving this scholarship has allowed me to devote a significant amount of energy and effort to excelling in my courses while releasing the financial burden of having to fund further education.

I will be using the funding toward university expenses as such as tuition, course materials and room and board.

Malcolm X said: “Education is the passport to the future, for tomorrow belongs to those who prepare for it today.” I believe education to be one of the most important things in my life as I pursue my Master’s degree, hoping to earn high honours. My ultimate educational goal is to become a certified public accountant. Although I will work while completing my degree, I am confident that using this strategy will improve my skills and aid in my Certified Public Accountant exam preparations.

I have a passion for problem-solving and strongly believe in accountability. Very few individuals appreciate the test of structure and fixing errors, instead of being proactive. Becoming an accountant will give me a chance to offer my skills and to contribute to the economic growth of my paradise Island by helping businesses create prosperity, wealth and employment.

My objectives upon joining any organisation are to develop my skills, collaborate with a team, and offer effective solutions in order to leverage my leadership skills to make vital decisions, foster a positive work environment, and contribute significantly to an organisation’s overall success. I wish to land an executive position.

A good memory is truly important for anyone to possess. My special talent is that I have a superb memory. Because of my memory, I believe I have excelled throughout my studies while maintaining a full-time job. Research has shown that the more individuals practise their recollections, the more capacity they have for learning new things.

Technology has constrained us to use its methods of recollection, resulting in reduced creativity. One of the principal preventions to a business’ development is the idea that there’s a single method for solving a problem. This has set me apart from others.

Receiving an ABIC Education Award was a lifechanging experience that I am extremely thankful for. This allowed me to focus on my studies, and also pursue a dream of playing college soccer. I was always keen to help ease the financial burden of college expenses and through hard work and ABIC’s support, I was able to achieve that. Thanks to ABIC, I was able to maximise my college experience as a student-athlete and to connect and build key relationships with industry professionals.

I am extremely grateful for ABIC’s investment in my studies, which allowed me to return home and contribute to the international business industry and give back to the community. I have always made a conscious effort to be available, to be a resource and a positive role model to other students pursuing careers in international business.

I’ve spoken to students at The Berkeley Institute, CedarBridge Academy and Bermuda College about my journey in the industry and available career paths. I have also mentored students who are now young insurance professionals working full-time in the industry.

I was recently appointed as an ABIC board member and look forward to being an advocate for Bermudian students. I am proud to be a member of such a prestigious alumni group and will forever be grateful to ABIC and its member companies for their continuous contributions and investments in Bermudian students, the Bermudian community and the international business industry.

Upon graduating from The Berkeley Institute, I pursued my higher education at Barry University, obtaining a BSc in business administration with a major in finance. Subsequently, I studied at Nottingham Trent University, where I obtained a Master of Finance.

My career in insurance started while I was a junior at Barry University. I participated in the 2013 Chubb Select Internship (formerly known as ACE) where I spent two summers with the company before joining full-time as the 2015 graduate trainee. I spent five years at Chubb in the financial lines underwriting team before joining Markel Bermuda in 2020. I am currently a senior underwriter in the financial lines division.