In a filing with the Bermuda Stock Exchange, BF&M Limited advised of the appointment of Anthony Joaquin as group chairman of the board of directors of BF&M Limited.

Mr Joaquin has served on the board as an independent non-executive director since 2006 and assumed the role of acting group chairman in December when John Wight stepped down from the group chairman’s role.

He is a Fellow of the Institute of Chartered Accountants and has extensive experience in financial services spanning more than 40 years.

Mr Joaquin’s current and prior experience includes his roles as chairman of HSBC Bermuda Ltd, managing partner of the Bermuda office of Ernst & Young, a director of Liberty Group Limited and certain of its affiliates, a director of SAL Limited, deputy chairman of the Bermuda Monetary Authority and president of the Chartered Professional Accountants of Bermuda.

BF&M group president and chief executive officer Abigail Clifford said: “I am extremely pleased that Tony has taken the helm as the group chairman of our board.

“During Tony’s tenure on our board, he has provided invaluable strategic guidance and leadership and was a natural choice. I look forward to working closely with Tony to ensure we are delivering necessary value for our stakeholders.”

Mr Joaquin said: “I would like to thank the board for the trust it has placed in me. I look forward to continuing to work with the board and the executive in my role as group chairman, executing against our strategic plan.

“I believe that BF&M will demonstrate the renewed strength and business focus required to generate sustainable value.”

The BF&M Group consists of three main insurance operating companies – Bermudian-based BF&M General Insurance Company Limited and BF&M Life Insurance Company Limited, and Island Heritage Insurance Company Ltd of the Cayman Islands.