Glenn Titterton is to step down as chairman of BF&M after 47-year association with the company.

Mr. Titterton, 63, who served as the insurer's chief executive officer from 1991 to the end of 2004, will also retire from the board of directors.

BF&M announced yesterday that Mr. Titterton would step down at the company's annual general meeting on April 22.

Mr. Titterton first worked for the company as a summer student in 1961 and took a job there after graduating from Saltus Grammar School.

He climbed through the ranks, serving as manager of domestic operations and then senior vice-president, before becoming CEO.