Independent insurance management company Kane (Cayman) Ltd. recently donated $40,000 to the Educational Scholarship Foundation of the Insurance Managers Association of Cayman.
Since 1994, the foundation has raised more than $2.3 million to assist 33 students pursuing degrees from universities in the U.S., the U.K., Canada, Europe and New Zealand. In addition to an annual donation of $20,000 to the foundation, Kane Cayman also supports the foundation through fundraising efforts and with its annual gala auction and raffle.
Kane Cayman’s Managing Director Linda Haddleton sits on the board of the foundation and the interviewing panel for selecting each year’s scholarship recipients.
Describing the process for choosing students selected to benefit from the scholarship program, Ms. Haddleton said applicants must have already been offered a place at an overseas university.
“This, as well as their prior academic record and references from teachers, assures us that they have a high chance of succeeding in their chosen course. The scholarship is needs-based, with priority given to candidates who might not otherwise be able to pursue their academic dreams.”
She said successful candidates must demonstrate a well thought out strategy regarding the appropriate course and university, passion for the course and intended career, an intention to return to Cayman and make the best use of their academic qualification and experience in contributing to the Cayman Islands, and be well-rounded individuals with interests in non-academic activities.
Ms. Haddleton said Kane is delighted when students return to Cayman to work in the insurance industry, but “it is by no means a requirement.”
She added, “It is often assumed that we give priority to candidates wishing to take business or finance degrees, law or actuarial science. However, we are completely open-minded about the chosen subject. Mainly because there are many areas, other than finance, in which Cayman will benefit from those with advanced education.
“Secondly, because most of the other scholarships available in Cayman are offered by accounting firms and law firms. Cayman is producing accountants and lawyers and a modest number of young actuaries. Our scholarship foundation assists future teachers, doctors, engineers, social scientists, IT professionals, veterinarians, HR managers and tourism and hospitality managers, to name a few. All of these professions contribute greatly towards Cayman’s economy and its future.”
For information about the foundation, visit www.imac.ky/scholarship-fund.