Abigail Clifford has been appointed president and group chief operating officer, and CEO designate of the BF&M group of companies.

A date for the transition has not been set and John Wight remains group chairman and CEO.

The company said that the selection of Ms Clifford is the result of a deliberate succession planning process over several years.

“This carefully planned and transparent succession approach demonstrates the BF&M differences,” Mr Wight said. “We are very proud to announce one of our own leaders who understands and cares deeply about our clients, employees and business.”

He added: “On behalf of the entire board, I’d like to congratulate Abby in her new role as president and group COO, and as our CEO designate. She is an exceptional leader who has played an instrumental role in leading our organisation through growth and major transformation efforts over the last eight years. I look forward to continuing to work with Abby.”

Ms Clifford said that the succession to president and COO was a natural step in her ongoing preparation for the CEO role.

She added: “I am honoured by this leadership opportunity, and I look forward to supporting our clients, employees and community to build upon BF&M’s strength and reputation.

“I also look forward to continuing the work required of a lead insurance and supplemental benefits provider in the years ahead.”

Anthony Joaquin, deputy chairman of BF&M Limited, said: “Abigail has brought tremendous value during her tenure. We look forward to working with her in this new role. The board remains committed to strong governance and a seamless leadership transition process in the future.”