A.M. Best Affirms Ratings of BF&M Limited and its Operating Subsidiaries

OLDWICK, N.J., Aug 26, 2008 (A. M. Best via COMTEX) -- BFMLF | Quote | Chart | News | PowerRating -- A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of ?a? of BF&M Limited and its main operating subsidiaries, BF&M Life Insurance Company Limited (BF&M Life) and BF&M General Insurance Company Limited (BF&M General) (all of Hamilton, Bermuda). The outlook for all ratings is stable.

The rating affirmations reflect the organization?s consistently positive net income, steady premium growth and strong capitalization. BF&M Life and BF&M General have consistently recorded premium growth, positive net income and net income growth for the last five years. The positive operating results have contributed to the strong level of capitalization for the organization. The capital levels at BF&M Life and BF&M General are more than adequate to support their current level of business and risk profiles.

Partially offsetting these positive rating factors is the organization?s concentrated book of business in the local Bermuda market, limited domestic growth opportunities and exposure of the group?s property business to hurricane risk. Nonetheless, the company purchases a substantial amount of reinsurance to minimize this exposure.

For Best?s Ratings, an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings.

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