Grand Cayman, 7 October, 2019—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

Insurance Corporation of Barbados Limited: A- (Excellent) Barbados

The outlook of each of these ratings is stable.

A.M. Best cited balance sheet strength reflecting strong levels of capital supporting the businesses of the BF&M group of companies, along with consistent favourable net gains from a diversified product portfolio and diversified geographic operations.  A.M. Best also highlighted the Company’s significant catastrophe reinsurance protection and approach to risk management, mitigating the financial impact of losses in the Bahamas from Hurricane Dorian.  

John Wight, Group Chairman and Chief Executive Officer of BF&M Limited, said: “These are the highest ratings given to a domestic insurer in the Caribbean. A.M. Best’s endorsement, year after year, of our financial strength and consistent track record over time will serve to further strengthen our position as an insurer of choice for our customers and partners.”​

ENDS

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 holds a financial strength rating of “A (Excellent)” by A.M. Best, along with a proven track record of customer service excellence throughout the Caribbean. Island Heritage is part of the BF&M group of companies – like-minded organizations with one goal in mind: providing insurance the way it should be.