BF&M Ltd has kept its strong ‘A’ (Excellent) financial strength rating from the independent rating agency AM Best. The news comes after BF&M’s recent merger with Argus.

The ‘A’ rating means AM Best believes BF&M is in excellent shape financially and can meet its obligations to policyholders.

This includes its subsidiaries: BF&M Life Insurance, BF&M General Insurance and Island Heritage Insurance, which operates in the Cayman Islands. All were given a stable outlook, meaning no changes to the rating are expected in the near future.

AM Best had previously placed the ratings “under review” after BF&M and Argus announced they would merge. With the deal now complete, the agency confirmed that both companies remain strong and well-positioned.

Argus Insurance Company and Bermuda Life Insurance Company, which are now part of the BF&M group, also kept solid ratings of A- (Excellent), with a positive outlook.

AM Best said BF&M’s balance sheet is the “strongest,” and the company continues to perform well financially. The agency also noted the company has a stable business strategy and effective risk management.

AM Best expects the newly combined company to keep strong capital levels and solid operating earnings going forward.