April 21, 2021

A.M best affirms financial strength ratings for Cayman Islands’ Island Heritage

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Island Heritage Insurance Company, Ltd. (“Island Heritage” or “the Company”) announced today 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

A.M. Best cited the Company’s balance sheet strength, supported by risk-adjusted capitalization at the strongest level, a history of positive operating earnings by the parent company, and robust enterprise risk management.  Other contributing factors included BF&M Limited’s diversified product portfolio and geographic operations, use of reinsurance, and its risk management approach, all of which factored into mitigating the financial impact of 2017’s record catastrophic hurricane activity.

John Wight, President and Chief Executive Officer of BF&M Limited, said: “These ratings remain the strongest of any domestic insurance group operating in the Caribbean region.  They form the cornerstone of our promise to pay and to be there for our policyholders over the long term.”

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