Hamilton, Bermuda, 16 August 2022— BF&M Limited (“BF&M”, “the BF&M Group” or “the Company”) today announced the retirement date of Group CEO, John Wight. Mr. Wight, who became President and CEO of BF&M in 2005, will retire on August 31 of this year. As announced in October 2021, Abigail Clifford will succeed him as Group CEO, effective September 1, 2022, and Mr. Wight will continue in his role as Chairman of the Board of BF&M Limited.

Mr. Anthony Joaquin, Deputy Chairman of BF&M Limited, said: “On behalf of the Board of the BF&M Group, I would like to thank John for his years of dedication to this company as CEO. He has led the organization with a steady hand, not only achieving strong financial performance but also establishing BF&M as a dedicated community partner. Abigail has the full support of the Board as she begins a new chapter for the Company as CEO. She is an exceptional leader and she is ready to implement her strategic vision.”

John Wight said: “On a personal note I have been honoured to serve as CEO and I am exceptionally proud of the work the team has accomplished. It is my ongoing pleasure to continue to serve as Chair of the Board. I am delighted to pass on the baton to Abby. She has a deep understanding of the business and cares deeply about our clients, our staff and the communities in which we operate. I look forward to continuing to work with Abby in her new role as CEO and I wish her every success.”

Mr. Wight joined the company in 1992. He became CFO in 1995 until 2005, at which time he assumed the role of chief executive officer. During his tenure, Mr. Wight oversaw the expansion of the company from operating in the jurisdiction of Bermuda to sixteen jurisdictions across the Caribbean region, as he led the organization through significant growth. He has served on the BF&M Limited Board of Directors since 2005, becoming Group Chairman in 2019.

BACKGROUND

BF&M Limited is the holding company of the BF&M group of companies (“BF&M Group”). The two largest operating companies within the BF&M Group are BF&M Life Insurance Company Limited, a leading provider of life, health and pensions products, and BF&M General Insurance Company Limited, the leading general insurer providing all forms of property, casualty, motor and marine products. The BF&M Group includes several other companies including BF&M Investment Services Limited, BF&M Properties Limited, (including Scarborough Property Holdings Limited and Barr’s Bay Properties Limited), and Island Heritage Insurance Company, Ltd.