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Spencer Educational Foundation Raises Over $1.5M to Support Next Gen Talent


AIG EVP Lucy Fato Honored at 2023 Spencer Event in New York

More than 400 insurance and risk management executives gathered at the Spencer Educational Foundation's Funding Their Future Gala on September 14 at Cipriani on 42nd Street in New York City. The group celebrated 2023 gala honoree Lucy Fato, executive vice president, general counsel & global head of communications for American International Group . The record-breaking event raised over $1.5M to fund scholarships, internships, and grants to shape the next generation of risk management and insurance professionals.

In her acceptance speech, Fato highlighted the importance of investing in future industry talent. "Providing grants, scholarships and other opportunities to students is a noble cause. It can be life-changing for a student, especially one who might not otherwise have an opportunity to pursue an education or recognize the vast opportunities that an industry like insurance has to offer," she said.

On behalf of Spencer’s Board of Directors, Teresa Black, board chair and COO, Surety, for Chubb, recognized two Spencer Scholarship recipients – Samiksha Padiyar, an undergraduate student at Temple University who was awarded the Hylant Scholarship this year as well as the Brown & Brown Diversity Scholarship in 2022; and Tawonga Muyila, an actuarial assistant with Corebridge Financial and recent graduate from Georgia State University where she was a two-time Spencer scholarship recipient.

Since 1979, the Spencer Educational Foundation has supported risk management education and helped to nurture and grow talent in the insurance industry. Through its scholarships, grants, and educational programs, the foundation has empowered tens of thousands of individuals to pursue their dreams and make a difference in the field.

"Thanks to our generous donors and sponsors, Spencer continues to enrich students’ lives and bolster the industry talent pipeline in a very tangible way," said Megan Miller, Spencer executive director. "It is truly inspiring to see what we can achieve when we come together in support of the future.”