AF Group announces acquisition of AmeriTrust Group

AF Group is acquiring AmeriTrust Group from Fosun.

Headquartered in Southfield, MI, AmeriTrust offers specialty insurance programs including workers’ compensation, commercial package and automotive business coverages, and comprehensive product offerings in various industry segments.

“With the acquisition of AmeriTrust, AF Group and its subsidiary brands continue to elevate their growth trajectory in the specialty insurance and workers’ compensation market, while Blue Cross accelerates our efforts toward greater diversification beyond our traditional core health insurance offerings. Our evolution into a multi-business enterprise with national scale supports our efforts to provide affordable health insurance to our customers and members, by making Blue Cross less reliant on their premiums and administrative fees for our revenue.” – Daniel J. Loepp, Blue Cross Blue Shield of Michigan president and CEO.

“This exciting acquisition aligns two world-class organizations toward a common goal of providing exceptional, customer-focused insurance products and services through our valued agents. The reputation and performance of AmeriTrust is proven in the marketplace, and we’re excited to welcome their exceptional team to our award-winning organization as we work together toward even greater success.” – Lisa Corless, president and CEO of AF Group.

With this acquisition, AF Group welcomes AmeriTrust’s expertise in the property and casualty space to its enterprise and further enhances its successful specialty and workers’ compensation products and its capabilities in other lines of insurance. The investment also reinforces AF Group’s increasingly prominent position and reputation in the property and casualty insurance market, which has grown significantly over the last decade. AF Group is recognized for its financial strength as a Ward’s 50 company and has earned an “A” (Excellent) rating by A.M. Best.