Deutsche Bank Offshore Donates $75,000 to Scholarship Fund

Upon dissolution of George Town Re, Ltd., a Cayman Islands exempt company, the trustees of the Company, Deutsche Bank, graciously donated US$75,000 to the scholarship fund of The Insurance Managers Association of Cayman (IMAC)

IMAC's Educational Scholarship Trust Fund was formed in 1994 to assist with the post high school education of young Caymanians. Contributions are regularly received from the individual insurance management firms and the captive insurance companies themselves.

Laveda Burton was recently awarded a full scholarship from The Educational Scholarship Trust Fund. Laveda is attending Richmond College in the UK to study International Business. Previous recipients of a scholarship from the Fund include Tiffany Anderson who has just completed a BA (Hons.) in Accounting and Finance at South Bank University in London and is now studying to become a Certified Accountant.

George Town Re, Ltd. was a special purpose vehicle with a Class B restricted insurance licence. It was owned by a number of major institutional investors and was set up by one of the world's largest reinsurance companies to provide them with reinsurance protection on their worldwide catastrophe risks including hurricanes.

Deutsche Bank (Cayman) Limited were very happy to contribute towards the Educational Scholarship Trust Fund. The total of US$75,000 will cover recipients of this scholarship over the next three years. The Trustees of the Deutsche Bank Trust were anxious to sponsor a scholarship on island to continue to assist with education of young Caymanians. Given the origins of the funds and the fact that the Insurance Managers manage a Scholarship Fund, the donation to the organisation was an obvious and perfect choice. Deutsche Bank is committed to the future of young Caymanians, and through scholarships like this, believe that their future will be brighter.

To learn more about IMAC please visit their website