Bahamas First improves revenue results in first quarter Patrick Ward. Bahamas First Holdings Limited realized revenue growth of $3.4 million in its first quarter of 2021, compared to last year’s first quarter, though the company was hit by an increase in claims, decreasing net underwriting income by 13.6 percent year-on-year, Bahamas First revealed in a press statement. The company’s results continue to be tempered by the COVID-19 pandemic despite the improved top-line revenue results, positive property and casualty (P&C) insurance claims experiences and a rising share price, according to the statement. Group President and Chief Executive Officer Patrick Ward said in the statement that both the Cayman Islands and Bahamas operations showed operations improvements in the first quarter, compared to 2020.