US-based AF Group, which supplies speciality and employees’ compensation insurance coverage by way of its affiliate manufacturers, has acquired Ameritrust Group.
The monetary worth of the deal, which was first introduced in April 2022, was not disclosed.
As per the preliminary announcement, AF Group’s subsidiary Accident Fund Insurance coverage Firm of America signed the deal to purchase AmeriTrust from Fosun.
The acquired firm affords complete merchandise for a number of {industry} segments in addition to speciality insurance coverage programmes and merchandise, equivalent to employees’ compensation, industrial bundle, and car enterprise coverages.
For AF Group, the deal allows the agency to supply extra diversified services to clients and bolsters its place out there.
Particularly, this transaction provides AmeriTrust’s property and casualty expertise to AF Group’s enterprise and additional enhances its speciality and employees’ compensation merchandise in addition to its strengths in different insurance coverage strains.
Blue Cross Blue Defend of Michigan president and CEO Daniel Loepp stated: “Including a trusted and revered firm like AmeriTrust to the Blue Cross Blue Defend of Michigan enterprise is outstanding information for our group.
“We stay up for the expanded capabilities and gifted staff AmeriTrust will add to AF Group’s industry-leading experience within the property and casualty house, enabling larger service choices to brokers and clients.”
AF Group is a wholly-owned subsidiary of Blue Cross Blue Defend of Michigan.
AF Group president and CEO Lisa Corless stated: “The work and dedication of AmeriTrust associates has led to a really sturdy popularity within the {industry}, and we’re excited so as to add their experience and capabilities as we broaden our product choices to the advantage of our accomplice brokers and shared policyholders nationwide.”
