NASSAU, July 30, 2020 \u2013 Bahamas First Holdings Limited (\u201cBFH\u201d or the \u201cCompany\u201d) is pleased to announce that shareholders agreed to the Board of Directors\u2019 recommendations for all proposed resolutions at the Company\u2019s Annual General Meeting (\u201cAGM\u201d) held on July 23, 2020, in Nassau. A total of 32.2 million shares were represented at the meeting, corresponding to approximately 88% of issued shares.<\/p>\n
Shareholders approved the Company’s 2019 Annual Report, consolidated financial statements and distribution of profit, including dividends for FY 2019.<\/p>\n
Voters re-elected Board Chair, Alison Treco, and Group President & CEO, Patrick Ward as directors and returned all other existing directors to office.<\/p>\n
During the meeting, insurance industry veteran Paul MacDonald was added to the slate of directors. Mr. MacDonald is the Executive Vice President of Personal Insurance at the Economical Mutual Insurance Company with significant experience in the insurance sector. He has expertise across multiple disciplines, including strategic planning, operational management, technology implementation, intermediary relations, and data analytics. Prior to working with Economical, Mr. MacDonald worked with RSA Canada, as the Senior Vice President and Chief Claims Officer, at SGI Canada as the Vice President of the Canadian Operations, and at PriceWaterhouseCoopers, where he served as the Vice President of Insurance Consulting – Strategy and Operations.<\/p>\n
Following the meeting the Chair, in welcoming Mr. MacDonald to the Board said, \u201cI am delighted to be working with Paul. He brings an impressive track record of leadership, innovative thinking, and market expertise that will be an invaluable resource to the company.\u201d<\/p>\n
Mrs. Treco also reminded shareholders of the public listing of the Company\u2019s shares and bonds on the Bahamas International Securities Exchange (\u201cBISX\u201d) on July 3 and reported the securities\u2019 robust trading since the launch.<\/p>\n
\u201cWe are pleased to continue to return value to our shareholders,\u201d she said in a statement at the conclusion of the meeting. \u201cWe thank them for their support of the proposed motions. It is vital that they can continue to exercise their voting rights in order to enable the Company to successfully build its operations for the future.\u201d She added that the Board is encouraged that Q1-2020 premium revenues and underwriting results speak to the Company\u2019s ability to adapt to the new economic reality necessitated by the COVID-19 pandemic.<\/p>\n
In line with the Board of Directors\u2019 recommendation, shareholders also voted in favour of the renewal of the mandate of KPMG as Auditors for the Company.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bahamas First Holdings Limited (\u201cBFH\u201d or the \u201cCompany\u201d) is pleased to announce that shareholders agreed to the Board of Directors\u2019 recommendations for all proposed resolutions at the Company\u2019s Annual General Meeting (\u201cAGM\u201d) held on July 23, 2020, in Nassau.<\/p>\n","protected":false},"author":2,"featured_media":1465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,13,12,11,14,1],"tags":[],"acf":[],"yoast_head":"\n