Promina subsidiary AAMI has become the first corporate sponsor of the recently opened Melbourne Centre for Financial Studies.

The specialised think-tank, an academic collaboration between Monash University, RMIT University and the University of Melbourne, was first mooted in December 2004. At the time Victorian Financial Services Minister Tim Holding said it would “bridge the gap” between universities and the financial services sector.

A familiar face to the industry is the Director of the centre. Professor Kevin Davis, who was responsible for the Treasury-commissioned report into the possible adoption of a policyholder protection scheme following the collapse after HIH.

Mr Davis says the centre’s activities will have far-reaching benefits for governments, businesses and the communities they operate in.

“There are many important practical and social issues in the area of insurance demanding in-depth research,” he said.

As a major general insurer based in Melbourne, AAMI was happy to contribute $100,000 over the centre’s first two years.

Other financial backers include the Victorian Government ($1 million) and the three participating universities ($900,000 in total).