BF&M

What BF&M does

BF&M is a Bermuda-based insurance and financial services company founded in 1903 that, through its merger with Argus, now operates under the Allshores Limited brand serving 18 jurisdictions across Bermuda, the Caribbean, and Europe. The company delivers an integrated suite of insurance, health, and wealth solutions organized into two core divisions: Health + Wealth (group health, group pension, group life and disability, individual health insurance, individual wealth/investments, wellness programs, and care coordination) and Insurance (personal and commercial property, casualty, motor, and marine coverage). Revenue is generated primarily through recurring insurance premiums, health insurance premiums, wealth management fees, and employee benefits administration across a customer base spanning individual consumers, employers, and commercial businesses.

The company operates through direct-to-consumer distribution via its website platform (allshores.com) and customer support channels, targeting both individuals seeking personal insurance and wealth products and employers seeking comprehensive group benefits packages. The underlying technology is described as an integrated insurance and financial services technology platform serving island communities, though specific technical architecture details are not disclosed in the source material. The business holds an AM Best 'A' (Excellent) financial strength rating and maintains 251-500 employees. Marketing is conducted through a multi-channel approach including the corporate website, LinkedIn, Facebook, and Instagram, with investor relations and shareholder services supported through a dedicated investor section on the website.

The combined entity positions itself around an "island strong" preparedness philosophy, emphasizing tools, partnerships, and programs that empower small island communities. The merger consolidates nearly 200 years of combined BF&M and Argus heritage, with the new Allshores brand unifying previously separate insurance, health, and wealth operations. Pricing is quote-based and varies by individual circumstances, coverage needs, and jurisdiction, with no publicly disclosed pricing schedule. The ownership structure and investor composition are not disclosed in the available data.

Name

BF&M

Legal name

Allshores Limited

Website

https://bfm.bm

Company type

Private

Founded year

1903

Operating status

Operating

Headcount range

251–500 employees

Short description

BF&M is a Bermuda-based insurance and financial services company founded in 1903 that, through its merger with Argus, operates as Allshores Limited, providing integrated health, wealth, personal, and commercial insurance solutions across 18 jurisdictions in Bermuda, the Caribbean, and Europe.

Ownership category

akta.pro rank

Product category

Insurance

NAICS

Insurance Carriers and Related Activities (524), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ)

akta.pro secondary industries

Inland Marine / Personal Articles & Valuable Items Insurance (FSAJACAJ), Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

Keywords

• Property and casualty insurance
• Group health insurance
• Employee benefits administration
• Individual wealth management
• Commercial insurance coverage

Headquarters

HQ city

Pembroke

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Insurance premiums: Revenue generated from personal and commercial insurance policies including property, casualty, and other risk coverage products.
2. Health insurance premiums: Recurring premiums from individual and group health insurance coverage, including employee benefits health plans.
3. Wealth management and investment services: Fees and commissions from individual investment products and group pension plan administration services.
4. Employee benefits administration: Revenue from administering group benefits including health, life, disability, and pension plans for employers.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

BF&M, now operating as Allshores following its combination with Argus, provides insurance, health, and financial services products across 18 jurisdictions in Bermuda, the Caribbean, and Europe. Its core offerings span residential and commercial property insurance, casualty, motor and marine products, employee benefits plans (group health, group pension, group life and disability), individual health insurance, individual wealth and investment products, wellness programs, and care coordination services.

Product overview

Allshores is a unified insurance, health, and financial services platform formed from the combination of BF&M and Argus. With nearly 200 years of combined experience, the company offers three interconnected service pillars: Health + Wealth (employee benefits plans, group health/pension/life & disability insurance, individual health insurance, individual wealth/investments, wellness programs, and care coordination) and Insurance (personal insurance and commercial insurance). The company serves 18 jurisdictions across Bermuda, the Caribbean, and Europe.

Differentiator

Problem solved

Functional benefit

Products and services

• Health + Wealth Comprehensive health and financial services platform offering employee benefits (group health, group pension, group life and disability), individual health insurance, individual wealth/investments, wellness programs, and care coordination services for both employers and individual consumers.
• Employee Benefits Employer-focused benefit plans bundling group health insurance, group pension plans, and group life and disability coverage for teams.
• Group Health Employer-provided health insurance plans covering employees and their dependents.
• Group Pension Employer-sponsored retirement and pension savings plans for employees.
• Group Life and Disability Employer-provided life insurance and disability coverage for employees.
• Individual Health Insurance Personal health insurance plans for individuals and families, including coverage for medical expenses and healthcare needs.
• Individual Wealth Personal investment and wealth management services for individuals, including retirement savings and investment products.
• Insurance Insurance products division offering personal and commercial insurance coverage to protect what customers value most.
• Personal Insurance Insurance coverage for individuals including home, auto, and personal property coverage designed to protect personal assets.
• Commercial Insurance Business and commercial insurance coverage including property, liability, and business interruption insurance for enterprises.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Markel Corporation: Specialty insurer with strong niche P&C and reinsurance capabilities. Comparable to Allshores in offering specialty commercial and personal lines to underserved or niche customer segments.
• Enstar Group: Bermuda-based insurance group focused on legacy and specialty insurance, with deep relationships across the Bermuda and Caribbean markets. Comparable to Allshores as a Bermuda-anchored multi-line insurance platform.
• PartnerRe: Bermuda-based global reinsurer with multi-line P&C and specialty offerings. Comparable to Allshores in Bermuda domicile, multi-line P&C, and exposure to catastrophe and specialty risks.
• Hiscox Ltd: Bermuda-domiciled specialty P&C insurer with strong specialty and reinsurance presence. Comparable to Allshores in its Bermuda heritage, broad multi-line offering, and global distribution footprint, though at materially larger scale.
• Arch Capital Group: Bermuda-headquartered insurer and reinsurer with diversified P&C and specialty lines. Comparable to Allshores in Bermuda origin, multi-line P&C focus, and broad geographic distribution.
• RenaissanceRe Holdings: Bermuda-domiciled reinsurer with significant catastrophe exposure management expertise. Comparable to Allshores in Bermuda domicile and property/casualty focus, particularly relevant given shared hurricane belt exposure.

Direct peers

• Lancashire Holdings: Bermuda-based specialty insurer focused on property, marine, aviation, and energy. Closely comparable to Allshores' marine and commercial insurance lines, particularly given overlapping specialty P&C exposure.
• Colina Holdings (Cayman): Cayman-based insurance and financial services group offering health, life, and P&C products across the Caribbean. Directly comparable to Allshores in Caribbean geography, multi-line insurance plus health/wealth offering, and employer group benefits.

Regional players

• Sagicor Financial Company: Caribbean-domiciled financial services group offering insurance, pensions, and wealth management across the Caribbean and U.S. Comparable to Allshores in serving island communities with an integrated insurance, health, and wealth platform.
• Guardian Group (Barbados): Caribbean-domiciled insurance and financial services group operating across multiple territories. Comparable to Allshores in Caribbean regional footprint and integrated life, health, and P&C offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/bfmlimited
• LinkedInlinkedin.com/company/allshores
• Instagraminstagram.com/allshoresbermuda
• Xx.com/bfminsurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BF&M