George Town, Grand Cayman, January 03, 2024 – Barents Re Reinsurance Company, Inc. (Barents Re) has reaffirmed its commitment to the Insurance Managers Association of Cayman (IMAC) Educational Scholarship Fund, a program that has successfully raised over $5 million since its establishment, enabling 65 young Caymanians to pursue higher education. The scholarship program depends on contributions from the Association’s members and industry partners who share the vision of empowering the next generation in the Cayman Islands.

In 2022, Barents Re pledged a generous donation of $60,000, disbursed as $20,000 annually for three years to support the Fund. Barents Re, a leading independent reinsurance group established in 1996, maintains a strong presence in Europe, the Middle East, and Latin America, with over 650 reinsurance connections across 75 countries. The company specializes in offering niche and specialty reinsurance products to property and casualty insurers. Barents Re’s ongoing support for the Scholarship Fund directly benefits the scholarship recipients, including 2022 awardees, Jayden Miller and Jana Tibbetts.

Jana Tibbetts, currently pursuing studies at Toronto Metropolitan University (Ryerson University), expressed her gratitude, saying, “The IMAC Scholarship has provided me with numerous opportunities I didn’t have previously. Without it, I wouldn’t have been able to fund my studies overseas in Toronto, where I’m focusing on the creative industries. Creativity has always been a passion of mine, and I am endlessly grateful not only for the opportunity to study it at a higher level but also for the chance to establish valuable connections worldwide that will undoubtedly advance my goals in entering the bustling creative industry as a Caymanian. My time in Toronto has been nothing short of amazing, and I cannot wait to bring back all of my knowledge to further enhance the creative sector back home in the Cayman Islands.”

Jayden Miller, another 2022 scholarship recipient, studying at the University of Kent, shared, “I am deeply honored to have been one of the 2022 IMAC Scholarship recipients, and I cannot fully express how much it meant to be chosen from among the many applicants. When I learned that I was selected by the scholarship interview committee, I was immediately overwhelmed with joy and relief, as I no longer had to worry about how to finance my university education and other associated costs. Another reason why being an IMAC scholarship recipient holds such significance is the knowledge of how proud my parents are of me for achieving such a prestigious honor and the assurance that they are a little less concerned about how I’ll pay for university. Especially considering that when I was growing up, my parents made significant financial sacrifices for my siblings and me. With this in mind, I understand that this scholarship means as much to me as it does to them. With the help of this scholarship, I hope to complete my studies at the University of Kent, where I am currently pursuing a Bachelor’s degree in Business and Management. In the future, once I have completed my degree, I would like to return to the Cayman Islands and apply the knowledge I have gained from my studies to the business environment.”

To make a donation to the IMAC Educational Scholarship Fund, contact Kevin Poole at kevin.poole@imac.ky

Further information about the Scholarship Fund can be found at www.imac.ky/imac-scholarship-fund

The Insurance Managers Association of Cayman (IMAC) represents the international insurance industry in the Cayman Islands. IMAC liaises with government and the regulator on the industry’s behalf and promotes innovation and international competitiveness to maintain Cayman’s advantageous market position. The Cayman Islands is the second largest domicile in the world for captives and a dominant jurisdiction for healthcare captives, group captives, catastrophe bonds and international reinsurance.