John Wight, chief executive officer of BF&M Ltd, is to become the insurer’s chairman as well.

Mr Wight will take on the new dual role when Gavin Arton retires as BF&M’s chairman at the company’s next annual general meeting on May 15, 2019.

Mr Wight has served BF&M as president and CEO since 2005, before which he was executive vice-president and chief financial officer for the company, having joined in 1992.

He has 35 years of experience in the financial services sector in Canada and Bermuda, and holds FCPA, FCA and CPCU designations.

Mr Arton has been chairman of BF&M since 2008. He was elected to the board as a director in 1998, since which he also assumed directorships with several of BF&M’s subsidiary companies.

Also retiring from the board of BF&M at May’s meeting will be Garry Madeiros, who has served two terms on the board of BF&M with the second being since 2006, and C.L.F. “Lee” Watchorn, who was appointed as a director in 2006.

Mr Arton said: “I advised the board in May of 2018 that I would be retiring as chairman and a director of BF&M following the Annual General Meeting in May 2019.

“I am pleased that the board has unanimously agreed to appoint John Wight as chairman and wish him and the company every success going forward.”

Mr Wight said: “On behalf of the board, I would like to thank Gavin, Garry and Lee for their significant contributions to BF&M over many years.”