Nick Faries appointed to head new BF&M initiative

BF&M Limited
Hamilton, Bermuda
19th September 2001

BF&M Limited has appointed Nick Faries to Vice President, E-Business and Technology Solutions, a new position committing BF&M to a leading edge technology future.

Mr. Faries has executive level responsibility for BF&M's information systems and the company's dynamic e-business and knowledge management strategies. He will report directly to Glenn Titterton, President and Chief Executive Officer.

Mr. Titterton explained that the position had very broad leadership responsibility for BF&M's technology initiatives. "Nick will have executive level responsibility for our market leading e-business initiative as well as a new role responsible for knowledge management. His broad responsibilities will include information systems and technology solutions. This position reflects BF&M's determination to remain a technology leader and to harness the power of our knowledge bank."

Mr. Faries has eight years experience in IT and six years in the insurance industry. A Bermudian, he first joined BF&M in 1994 as a Technical Support Representative. During his six years with the company, Mr. Faries progressed to Manager IS Technical Services. He left BF&M in February 2000 to assume the position of Director Information Systems at Bermuda College. He is the serving President of the Computer Society of Bermuda and the former manager of the Internet's Bermuda top level domain (.bm).

Glenn Titterton commented: "We are delighted to welcome Nick back to BF&M. We believe that he is the ideal person to lead this innovative and leading edge initiative. I am confident that he will make a substantial contribution to the BF&M executive team and to our future success"

While knowledge management represents a new initiative, BF&M's e-business reputation is well established. BF&M's site www.bfm.bm , was one of Bermuda's early web sites but in July 2000 it went live as Bermuda's first full "quote and buy" personal insurance service. It remains the only site where Bermuda customers can actually buy personal insurance solutions, pay the premium and obtain instant cover, at any time of the day or night, 7 days a week, 365 days a year.

Mr. Faries said that "new products and services are being rolled out continuously. In June this year, we introduced on-line renewals for cars and bikes as well as a portfolio review facility allowing BF&M customers to review all their personal policies on-line 24/7. Over the next several years, BF&M expects its e-business initiatives to be at the core of a major re-engineering process for the Group.

Mr. Faries added: "BF&M has taken the lead in e-commerce, demonstrating both the effectiveness of its forward planning and a high level commitment to offer the very best customer service available anywhere. I am excited to be part of this forward-thinking team."

Mr. Faries holds a Bachelors Degree in Physics and a Diploma in Engineering from Dalhousie University, Nova Scotia. He also attained an Associates Degree in Business Administration from St. Leo College, Florida, and has attended numerous technical and IT related conferences, training sessions and seminars. Mr. Faries is currently enrolled in Herriot Watt's Edinburgh Business School M.B.A. programme.

ABOUT BF&M INSURANCE GROUP
BF&M Limited is the holding company of the BF&M Insurance Group. The two largest operating companies within the Group are BF&M Life Insurance Company Limited, a leading provider of life, health and pensions products, and BF&M General Insurance Company Limited, the leading general insurer providing all forms of property, casualty, motor and marine products. The group includes several other companies including BF&M Management Limited, Marchmont Insurance Company Limited, BF&M Investment Services and BF&M Properties Limited, (including Scarborough Property Holdings Limited and Barr’s Bay Properties Limited)

For further information contact :-

Glenn M. Titterton, President & Chief Executive Officer

Phone 295 5566, Fax 292 8831, e-mail gmtitterton@bfm.bm