BF&M: Completes Merger with Argus Group

The insurance sectors in Bermuda witnessed a significant consolidation with the completion of the merger between BF&M Ltd and the Argus Group. The merger, initially announced in June, saw Argus amalgamate with Eleos Health Ltd, a fully owned subsidiary of BF&M. Shareholders of both companies removed final hurdles to the merger in December. The newly combined entity, led by BF&M's Abigail Clifford, is geared to operate with increased scale, focusing on service excellence and strategic investments. While the two entities continue separate operations in the short term, a share exchange has taken place, and Argus shares have been delisted from the Bermuda Stock Exchange. The new organizational structure sees key executives from both firms taking on leadership roles. Plans are underway to rename the consolidated company in the future.