BF&M Limited announced that it had reached an agreement to acquire Island Heritage Holdings Ltd. and its subsidiaries, including Island Heritage Insurance Company Ltd. This transaction is subject to the approval of Regulators. Island Heritage is a specialty property and casualty insurer, headquartered in Cayman with insurance operations in several Caribbean islands.
President & CEO John Wight stated that “We are proud to be announcing the acquisition of a market leader in the Caribbean. It is BF&M’s strategy to enhance our footprint in the Caribbean region.
“The acquisition by BF&M of Island Heritage is part of the company’s strategic goal of becoming a major insurer in the Caribbean region. Island Heritage has a talented team of experienced insurance professionals, and we look forward to working collaboratively with them to enhance their product and service offerings.”
BF&M comprises many companies with operations dating back over 100 years. Its two principal operating companies BF&M “General” and BF&M “Life” are rated “A” Excellent by rating agency AM Best. There is no domestic insurer in Bermuda or the Caribbean with a stronger rating
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- A.M. Best Comments On BF&M Acquisition | Bernews.com | April 5, 2012