Hashtag: #BF&MLimited
BF&M Net Income For 2011: $32.7 Million
BF&M Limited today [June 7] announced shareholders’ net income for the year ended 31st December, 2011 of $32.7 million, resulting in a return on shareholders equity of 18%. These results exceeded shareholders’ net income of $17.5 million for 2010. President & CEO, John Wight said, “Wwere satisfied with the company’s financial results.... Read more of this article
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... Read more of this article
Flagstone To Sell Lloyd’s Operation For $48M
Bermuda’s Flagstone Reinsurance Holdings said today [Apr.3] it will sell its Lloyd’s operations to specialty insurance business ANV Holdings BV for about $48 million in cash. Bermuda Flagstone will also release about $162 million in underwriting capital that is currently supporting the unit’s operations. Flagstone’s Lloyds segment... Read more of this article
BF&M Announces Acquisition of Island Heritage
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... Read more of this article
BF&M: ‘We Continue To Do Well’
Bermuda’s BF&M Insurance Group has emerged from a difficult year, with the cost of its reinsurance coverage going up even while the firm’s clients are opting for cheaper policies given the current economic downturn . But BF&M, which operates primarily in Bermuda but also in Barbados, the Bahamas and the Cayman Islands, believes... Read more of this article
BF&M Adds Talend ESB To Portfolio
Talend, the California- and French-headquartered open source software manufacturer, today [Dec.15] announced that Bermuda insurance group BF&M has added Talend ESB Enterprise Edition to its portfolio of Talend integration solutions. BF&M Insurance Group, one of the leading insurance companies in Bermuda, provides property/casualty insurance,... Read more of this article
BF&M ‘Satisfied With Financial Results’
Bermuda’s BF&M Limited today [Nov.17] announced net earnings for the 9 month period ended September 30, 2011 of $16,688,016, resulting in a return on shareholders equity of 12%. These results compared with net earnings of $16,899,331 for the comparable nine month period in 2010. President & CEO, John Wight stated that “we were satisfied... Read more of this article
Sixteen Month Sentence For Insurance Fraud
The 37-year-old Sri Lankan accountant and ex-HWP employee, Ms Chandima Gangula Arachige, who was convicted five counts of defrauding BF&M Insurance Co Ltd of a total $76,297 and of attempts to fraudulently obtain another $13,000 from BF&M; was this morning [Sept.21] sentenced to a total of sixteen months in prison. Before passing sentence,... Read more of this article
Woman Pleads Guilty: Insurance Fraud
In Magistrates Court this morning [Sept.19], 37-year-old Sri Lankan national Ms Chandima Gangula Arachchige pleaded guilty to a charge of defrauding BF&M Insurance of $7,884. At the time of the offence, on 20 August 2010, Ms Gangula Arachchige was employed by the HWP group of companies. She had submitted a request for re-payment of medical expenses... Read more of this article
BF&M Net Earnings: $11.4 Million
BF&M Limited today announced net earnings for the 6 month period ended 30th June 2011 of $11,352,382, resulting in a return on shareholders equity of 12%. These results compared with net earnings of $10,707,811 for the comparable 6 month period in 2010. President & CEO, John Wight stated that “we were satisfied overall with the company’s... Read more of this article
A.M. Best Affirms Ratings of BF&M Limited
A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of “a” of BF&M Life Insurance Company Limited and BF&M General Insurance Company Limited. A.M. Best also has affirmed the ICR of “bbb” of BF&M Limited. The outlook for all ratings is stable. All companies are domiciled in Hamilton,... Read more of this article
BF&M Announce 2011 Q1 Earnings: $5.7 Million
BF&M Limited today [June 23] announced net earnings for the 3 month period ended 31st March 2011 of $5,698,673, resulting in a return on shareholders equity of 10%. These results compared with net earnings of $5,916,313 for the comparable 3 month period in 2010. President & CEO, John Wight stated that “we were satisfied overall with the company’s... Read more of this article
BF&M’s Profits Slip In ‘Weakened Economy’
BF&M Limited today [May 19] announced net earnings for the year ended December 31, 2010 of $17.3 million, resulting in a return on shareholder’s equity of 10 percent which president and CEO John Wight said “represented a decrease from 2009 results of $19.6 million”. Mr. Wight added that “2010 proved to be a challenging year for Bermuda... Read more of this article
BF&M Announce Earnings of $16 Million
BF&M Limited today [Nov 18] announced net earnings for the nine month period ended 30th September 2010 of $16,899,331, a 3% increase over the comparative period in 2009 of $16,373,408. These earnings represented a 12% return on shareholders equity. John Wight [pictured], President & CEO of BF&M stated that “We were overall pleased... Read more of this article
BF&M: Earnings of $5.9 Million for 2010 1st Quarter
BF&M Limited today [May 25] announced net earnings for the 3 month period ended March 31, 2010 of $5,916,313, resulting in a return on shareholders equity of 14%. John Wight, CEO, said that the results were largely due to investments, and that higher health claims impacted the business. These results compared with net earnings of $888,614 for... Read more of this article
BIU Meeting Report: Insurance Premiums
Last night’s BIU organized meeting about health insurance premium raises was attended by about 80 people including Union members, non-union workers, self-employed persons, and business owners. On the panel were; BIU President Chris Furbert, Ed Ball of the BPSU, Gerald Simons of Argus Insurance, John Wight of BF&M Insurance, and Kathy Landy and... Read more of this article
