Job losses at BF&M
Seven posts have been made redundant as a result of a restructuring of a part of BF&M's life insurance business.
The Bermudian insurer said yesterday that two of those affected, both of whom are Bermudians, had been offered full-time positions in the group.
John Wight, BF&M's chairman and chief executive officer, said yesterday: “We are always focused on operational efficiency and client service. We have determined that reallocating the servicing of our individual life insurance business in house instead of through an agency structure allows us to better meet those objectives.
“We staff according to the changing needs of the business as part of our normal course of operation. There is no change to our approach.
“I am pleased to confirm we have been able to offer full-time employment to two individuals who were impacted by the restructuring.
“BF&M remains fully committed to growing our individual life insurance in Bermuda.”