Grand
Cayman, 23 October, 2020—
Island
Heritage Insurance Company, Ltd. (“Island Heritage” or “the
Company”) has announced that A.M Best has affirmed its financial
strength rating of A (Excellent), along with the financial strength
ratings of all main insurance operating companies of parent company
BF&M Limited, as follows:

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

The
outlook of each of these ratings is stable.

AM
Best cited balance sheet strength, characterised as “strongest”,
the neutral business profile of the BF&M group of companies, and
its appropriate enterprise risk management approach.  Also
highlighted by AM Best were the Company’s strategy of geographic
and premium diversification, along with its significant catastrophe
reinsurance protection.  

John
Wight, Group Chairman and Chief Executive Officer of BF&M
Limited, said: “BF&M’s financial strength ratings are
market-leading across the Caribbean.  This endorsement by AM
Best and our consistent track record over time will serve
to further
strengthen our
position as an insurer of choice.”​

BACKGROUND

Founded
in 1996 in the Cayman Islands, Island Heritage Insurance Company,
Ltd. (“Island Heritage”) is a leading provider of personal and
commercial insurance, including property, casualty, motor and yacht.
In 2018, the Island Heritage Retirement Trust Company was approved as
a Cayman-registered pension plan provider.

Island
Heritage is part of the BF&M group of companies, of which the
parent company is BF&M Limited.