BF&M Acquisition Of Island Heritage Holdings
In a filing to the Bermuda Stock Exchange dated 11 April, 2012, BF&M Limited released a statement concerning the acquisition of Island Heritage Holdings Ltd.
The statement read, in part: “… BF&M has purchased 338,409 Common Shares of Island Heritage Holdings Ltd., being a 100% holding, for $68 million.
Island Heritage was formed in 1996 following an insurance capacity crunch caused by large internal insurance carriers exiting the Caribbean in the wake of a number of hurricanes.
The company is a profitable speciality property and casualty insurer headquartered in the Cayman Islands, and licensed in a number of major Caribbean Islands including the Cayman Islands, US Virgin Islands, Barbados and the Bahamas.
BF&M’s operations date back over 100 years. Its two principal operating companies, BF&M General Insurance Company Limited and BF&M Life Insurance Company Limited are rated “A” Excellent by AM Best.”
