BF&M has initiated a Strategic Review that may result in the sale of the company.
Calling it a ‘review of strategic alternatives’, the board of directors has established a special committee after discussions with its principal shareholder. The committee will be chaired by group chairman and chief executive officer John Wight and includes Jennifer Reynolds and Anthony Joaquin. The special committee has retained Desjardins Capital Markets to assist it in this process.
Wight said in a statement: “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.”
The firm was last in the news here at Reinsurance News when it appointed Bruce Walker as EVP, group chief financial officer of the BF&M Group.
In addition to being a former CFO and transformational leader at ACE INA Insurance, Walker served as chief risk officer at Chubb Insurance Company of Canada. In this role he was responsible for implementing an Enterprise Risk Management framework and reporting programme, as well as partnering with the chief actuary and CFO to provide strategic analysis and portfolio optimisation.
