12 April 2013Cayman analysis

IMAC scholarship foundation building Cayman excellence

A scholarship fund run by the Insurance Managers Association of Cayman, which has sent 24 Caymanian students to complete post-secondary education since 1994, received a donation of $20,000 from Cayman-domiciled captive Churchill Casualty Ltd. in celebration of the company’s 20th anniversary.

The original donation was supplemented by Kensington Management, who donated an addition $10,000 in support of their client, and shareholders C-Line Products, SupplyOne, Inc. and Family Food Products Inc. each contributed $5,000. The total amount of donations totalled $50,000.

The IMAC Scholarship has raised almost $2 million over its lifetime. Scholarship recipients may study in any field, the only requirements being maintenance of a certain grade point average and that the students return to Cayman to pursue their careers.

Michael Gibbs, president of Kensington Management Group, said: “after 20 years of doing business in the Cayman Islands and visiting regularly for meetings, the board members have come to think of Cayman as a second home and they wanted to contribute to this community in a way that would leave a lasting impact. This combined contribution will educate a young Caymanian and that is a true gift.”