As college tuition spikes higher each year, 13 Rhode Island and Massachusetts residents will each receive up to $3,500 per year from insurance giant FM Global for tuition and fees for full-time undergraduate study at an accredited college or university worldwide, according to a press release last week. FM Global is Rhode Island’s largest private company and one of the world’s largest commercial property insurers. 

In an ongoing effort to help its employees, FM Global annually awards a select number of college scholarships to their sons and daughters. Nearly 150 local residents have received more than half-a-million dollars from the FM Global Scholarship Program over the past four years.  

Local recipients this year include:

Matthew C. Deneff of Warwick; a freshman at University of Connecticut majoring in pre-pharmacy.

Devan M. Dube of North Smithfield; a freshman at University of Rhode Island, majoring in nursing.

Emily M. Fox of Warwick; a freshman at University of Rhode Island majoring in pharmacy.

Matthew P. Weber of North Kingstown; a freshman at University of Delaware majoring in chemical engineering.

Established in Rhode Island nearly two centuries ago, FM Global (www.fmglobal.com) is a $5.5 billion company that insures more than one out of every three Fortune 1000 companies in more than 130 countries. Clients work with FM Global to develop robust property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. The company is ranked 541 among Fortune Magazine’s largest companies in America. It employs 5,200 people in 65 offices worldwide – one-third of which work at the insurer’s Norwood and Waltham offices in Massachusetts, and the rest at its corporate headquarters in Johnston and its Research Campus in West Glocester.