Allshores reveals $43.2m Argus acquisition price in annual review
Bermuda-based insurer Allshores, formerly BF&M, has disclosed that its acquisition of Argus Group Holdings carried a net purchase consideration of $43.2 million, with the transaction contributing significantly to the group’s 2025 financial performance following completion in January last year.
Full-year financials revealed that the net purchase price consideration of $43.2 million. The transaction was accounted for as a business combination and resulted in the recognition of acquired intangible assets totalling $68.2 million, which primarily consisted of customer relationships and contracts.
Allshores recognised a one-off, non-cash accounting adjustment of $45.8 million, classified as a “bargain purchase gain”. This valuation adjustment arose primarily from the identification and fair value measurement of the acquired intangible assets and the revaluation of other identifiable net assets.
The acquisition generated direct transaction costs of $5.4 million, which the company expensed as incurred within its other operating expenses. From the date of acquisition through December 31 2025, the acquired Argus operations contributed revenue of $291.4 million and a net income of $48.2 million to the combined group’s financial performance.
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