Veteran Actuary Retires from Board of Bahamas First Holdings Limited, Continues to serve as Director of Subsidiary Companies

November 19, 2020

Interim Board vacancy filled by respected actuary and risk management specialist


NASSAU, November 20, 2020 – The Board of Directors of Bahamas First Holdings Limited (“BFH”) today announced that Mrs. Linda Goss has resigned as Director, effective November 18, 2020, in tandem with her pending retirement as Senior Vice President and Chief Actuary for Economical Mutual Insurance Company (“Economical”) after 20 years of service. Mrs. Goss will continue to be a director of two of BFH’s subsidiaries.

“We thank Linda for her four years of dedicated service to our board of directors and as a testament to her contribution to the Group, she will continue to be involved as a Director of Bahamas First General Insurance Company Limited and Cayman First Insurance Company Limited, and will serve as a member of the Audit and Technical Review & Risk Compliance committees,” said Board Chair Alison Treco.

The temporary vacancy on the BFH Board will be filled by the appointment of Mr. Liam McFarlane, Economical’s Chief Risk and Actuarial Officer. Mr. McFarlane is a recognized and respected actuarial expert in Canada and was elected to the board of BFH on November 18, 2020.

Prior to joining Economical, Mr. McFarlane was a partner with Ernst & Young LLP for ten years, where he led the Canadian actuarial practice. In this role, he worked with insurers, reinsurers, financial institutions, and corporations in audit and consulting capacities. He has also served as appointed actuary for numerous P&C insurers and reinsurers. He is a member of the Canadian Institute of Actuaries where he served as chair of the Committee on Professionalism and as a member of the Standards and Guidance Council. In addition to being a qualified actuary, Mr. McFarlane also brings to the Board his expertise in risk management.

“We are pleased to welcome Liam to the Board,” Mrs. Treco continued.  “He brings years of leadership in key areas that are vital to our operations and strategy. We have a busy year ahead and I am very much looking forward to his contribution.”