New Markel scholarship announced for VCU Business and Engineering students
Markel, a Richmond-based holding company and long-time supporter of Virginia Commonwealth University, established a new VCU scholarship for Business and Engineering students, available starting in the fall 2022 semester. The VCU Markel Scholarship will be awarded six VCU students in its inaugural year—four Business students and two Engineering students.
The new scholarship is part of Markel’s company-wide initiative to improve equitable access to education, ensuring that high-achieving students with limited means have a path to success. First announced in the company’s December 2021 annual giving report, the scholarship will provide critical financial support to students, allowing them to focus on their coursework, internships and degree completion.
“Markel has been a longstanding and generous partner to VCU over the years,” says Sandy Turnage, director of corporate relations at VCU. “This remarkable gift will allow us to support undergraduates during their most critical years of study, when course loads are heaviest and concurrent with internships. This scholarship also offers the opportunity to raise student awareness of Markel’s career opportunities, creating a unique talent relationship between our respective organizations.”
In addition to showing financial support, several Markel executives have contributed their time to VCU over the years. Glenn Harris, Managing Executive, Distribution Strategies & Business Development, recently joined the VCU School of Business Foundation’s Board of Trustees.
Many VCU students also go on to work at Markel; the company regularly posts internship and job openings through the VCU Handshake employment space. In 2021 the Markel internships that attracted the most VCU students included Finance, IT, Global Communications & Marketing and HR.
Applicants for the VCU Markel Scholarship are evaluated based on a variety of categories, including community involvement and academic standing. Alignment with Markel’s mission and vision, The Markel Style, are also taken into consideration. The Markel Style places honesty and fairness, a commitment to success, the spirit of teamwork, a zealous pursuit of excellence and a commitment to one’s community at the forefront of its work culture.
“As the Markel Style states, we believe in providing an atmosphere in which people can reach their personal potential, and equitable access to education is clearly consistent with this philosophy,” said Jeremy Noble, senior vice president and chief financial officer. “The Markel Scholarship Fund improves educational access and encourages eligible, needs-based students to achieve their goals by alleviating some of their educational expenses. This program reaffirms Markel’s partnership with VCU as well as our commitment to the community.”
Markel was founded in 1930 and is a holding company for insurance, reinsurance and investment operations around the world. Through Markel Ventures, the organization allocates capital to invest in opportunities outside of insurance. The company has 61 offices in 16 countries, with 20,300 employees.