BF&M mulls potential sale as strategic review initiated

BF&M, the Bermuda holding company of BF&M Life Insurance and BF&M General Insurance, has initiated a review of strategic alternatives following discussions with its principal 37.4% shareholder.

The company said the aim of the review is to maximize shareholder value and the outcome may include the sale of the company.

The board has established a special committee to oversee the Strategic Review. It will be chaired by group chairman and chief executive officer John Wight (pictured) and include Jennifer Reynolds and Anthony Joaquin, both independent directors.

The Special Committee has retained the services of Desjardins Capital Markets to assist it in this process.

Wight stated: “Throughout and beyond the Strategic Review process, BF&M will remain focused on enhancing corporate value by steadily carrying out business activities, delivering excellent customer service and executing on our long-term strategy.”