BF&M Announces Changes to the Board

Hamilton, Bermuda, 21 March 2019— In a filing with the Bermuda Stock Exchange (“BSX”), BF&M Limited (the "Company"; Ticker: BFM.BH)”) today announced changes to the Board. The filing stated:

BF&M Limited (“BF&M”, “the BF&M Group” or “the Company”) announced today that Mr. Gavin Arton will retire from his role as Chairman of the Board and a Director of BF&M Limited at the upcoming Annual General Meeting of the Company on May 15, 2019. Mr. John Wight, currently President and Chief Executive Officer of BF&M Limited, will succeed Mr. Arton in the combined role of Chairman and Chief Executive Officer, immediately following the May 15 Annual General Meeting.

Mr. Wight has served BF&M as President and Chief Executive Officer since 2005, before which he was Executive Vice President and Chief Financial Officer for the Company, having joined in 1992. Mr. Wight has 35 years of experience in the financial services sector in Canada and Bermuda, and holds FCPA, FCA and CPCU designations.

Mr. Arton has been Chairman of the Board of BF&M Limited since 2008. He was elected to the Board as a Director in 1998, since which he also assumed Directorships with several of BF&M’s subsidiary companies.

Also retiring from the Board of BF&M Limited at the Annual General Meeting on May 15, 2019, are Mr. Garry A. Madeiros OBE, who has served two terms on the Board of Directors of BF&M Limited with the second being since 2006, and Mr. C. L. F. (Lee) Watchorn, who was appointed as a Director of BF&M Limited in 2006.
Mr. Arton stated, “I advised the Board in May of 2018 that I would be retiring as chairman and a Director of BF&M following the Annual General Meeting in May 2019. I am pleased that the Board has unanimously agreed to appoint Mr. John Wight as Chairman and wish him and the Company every success going forward.”

Mr. Wight commented, “On behalf of the Board, I would like to thank Gavin, Garry and Lee for their significant contributions to BF&M over many years.”

ENDS

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), Hamilton Financial Limited, Island Heritage Insurance Company Ltd, and a 51.24% interest in the Insurance Corporation of Barbados Limited.

For further information contact:-
R. John Wight, FCPA, FCA, CPCU, Group President & Chief Executive Officer
Phone 295 5566, Fax 292 8831, e-mail jwight@bfm.bm