A.M. Best Comments On BF&M Acquisition
A.M. Best Co. today [Apr.5] commented that the issuer credit rating of Bermuda’s BF&M Limited [BF&M], as well as the issuer credit ratings and financial strength ratings of its insurance subsidiaries, remain unchanged following the announcement that BF&M has entered into an agreement to acquire Island Heritage Holdings Limited and its subsidiaries.
All companies are domiciled in Hamilton, Bermuda.
A.M. Best anticipates that the proposed transaction will not stress BF&M’s leverage or coverage position.
Furthermore, the proposed acquisition will allow BF&M to expand its presence in the property and casualty segment, as well as extend its geographical market outside the island of Bermuda.
Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source.
