AM Best: BF&M Ratings Remain Unchanged
AM Best has commented that the Credit Ratings of BF&M Limited and its insurance subsidiaries “remain unchanged following BF&M’s announcement of a strategic review. ”
A statement from the ratings agency said, “On June 29, 2022, BF&M announced that it has initiated “a review of strategic alternatives to maximize shareholder value, which may include the sale of the Company,” following discussions with its principal shareholder, which has a 37.4% ownership position. AM Best expects BF&M to continue in its normal course of business operations and its financial position to remain unaffected during this time.
“AM Best will maintain a dialog with management during the strategic review process. Upon completion of the strategic review and any associated announcement, AM Best will evaluate the potential impact to BF&M’s rating fundamentals.”
