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.