Scholarships target of fundraising gala

The IMAC Scholarship Foundation is
holding its first fundraising gala on 18 September.

The Insurance Managers Association
of Cayman Scholarship has supported 21 students in the past 16 years in
obtaining higher education through the Educational Scholarship Trust Fund of
the Insurance Managers Association of Cayman.

The foundation was formed in 1994
to assist with the post high school education of young Caymanians.
Contributions to the fund are derived from the association, the individual
insurance management firms and the captive insurance companies themselves. It
is the intention that the funds available be used where they can provide the
most benefit.

Since its inception, the fund has
raised over US$1 million. More than US$534,000 has been paid out and some
US$464,000 has been set aside to fund ongoing scholarship commitments.

Full scholarship funding for four
years currently runs at $36,000 per annum per scholar.  Most years the foundation has launched one
scholarship, and in the past four years the foundation has been able to launch
six scholarships. 

With inflationary challenges, and
the impact of the current economy on limited the number of scholarships
available in Cayman, the foundation is hosting this gala event to ensure its
continued success in assisting as many as possible of the very worthy and
talented candidates who come forward with applications each year.  Contact [email protected] for more