In the past 12 years, since it became fully Bahamian-owned, BAF Financial and Insurance has tripled its business to more than $1 billion in life insurance coverage under its hold, its Chief Financial Officer Julian Rolle said yesterday, as the company announced it is celebrating 100 years of providing insurance to The Bahamas.
“BAF provides insurance coverage to more than 100,000 individuals. This means hundreds of thousands of other individuals depend on BAF to secure their lives, dreams and assets by providing the very best to our members,” he said at a press conference at BAF’s headquarters on Independence Drive yesterday.
“In the past 12 years, BAF has tripled its business and today, our company has more than $1 billion in life insurance coverage in force. BAF manages approximately $250 million in pensions and investments and our company is reinsured by internationally recognized AA-rated reinsurers Swiss Re Group and Munich Re Group.”
Established in June 1920 as British American Bahamas, it was one of the first insurance providers in The Bahamas and expanded its services to include general, health, auto, property, life, liability and commercial insurance services to The Bahamas, Grand Cayman and Turks and Caicos.
“It was British American Bahamas that pioneered the home service market. The company was the first in The Bahamas to introduce agents going door-to-door selling policies and collecting premiums. This simple and thoughtful service brought our agents into the homes and lives of our members and began a longstanding tradition that continues today,” BAF Financial and Insurance Chief Operations Officer Sandy Morley said.
“One hundred years later, our career agents still meet families in their homes, still know the names of our clients’ children and still visit like friends at the loss of a loved one. In an impersonal world where technology effectively does everything, BAF knows that there are still some people who prefer the personal touch.”
Morley added, “BAF boldly wears the title as the oldest, most trusted name in insurance in The Bahamas.”