A.M. Best Affirms BF&M Group’s Ratings
BF&M Limited announced that rating agency A.M. Best had affirmed the following financial strength ratings for BF&M Group’s four principal operating companies:
- BF&M General Insurance Company Limited A [Excellent] Bermuda
- BF&M Life Insurance Company Limited A [Excellent] Bermuda
- Island Heritage Insurance Company Ltd. A [Excellent] Cayman
- Insurance Corporation of Barbados Limited A- [Excellent] Barbados
A.M. Best cited “The ratings of BF&M Life and BF&M General reflect their consistently positive net income, solid capitalization, strong market positions and increased business diversification”. The ratings for Island Heritage reflect its strong risk – adjusted capitalization and excellent profitability whilst ICBL’s ratings reflect the company’s strong risk – adjusted capitalization, low underwriting leverage and solid performance.
President & CEO John Wight stated that “We were very pleased to be informed by A.M. Best of the ratings for our group companies. There is no domestic insurance group in Bermuda or the Caribbean with such strong financial strength ratings.”
