AF Group Completes its Acquisition of AmeriTrust Group

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Jan 03, 2023, 13:00 ET

LANSING, Mich., Jan. 3, 2023 /PRNewswire/ -- AF Group, a nationally recognized holding company whose affiliated brands provide specialty and workers' compensation insurance solutions across the United States, has announced the completion of its acquisition of AmeriTrust Group (Southfield, MI). Initially announced in April 2022, the acquisition has earned regulatory approvals and now aligns two world-class, Michigan-based insurance organizations in the property and casualty market.

"Adding a trusted and respected company like AmeriTrust to the Blue Cross Blue Shield of Michigan enterprise is exceptional news for our organization," said Daniel J. Loepp, president and CEO of Blue Cross Blue Shield of Michigan, the parent company of AF Group. "We look forward to the expanded capabilities and talented team AmeriTrust will add to AF Group's industry-leading expertise in the property and casualty space, enabling greater service offerings to agents and customers."

The acquisition positions AF Group to serve its customers with more diversified products and services and further strengthens their increasingly prominent position and reputation in the market, which has grown significantly over the last decade. AF Group has been recognized for its financial strength as a Ward's 50 company and "A" (Excellent) rating by A.M. Best -- and for its award-winning people first culture.

"We could not be more pleased to welcome the AmeriTrust team to our organization," said Lisa Corless, president and CEO of AF Group. "The work and commitment of AmeriTrust associates has led to a very strong reputation in the industry, and we're excited to add their expertise and capabilities as we broaden our product offerings to the benefit of our partner agents and shared policyholders nationwide."

About Blue Cross Blue Shield of Michigan
Blue Cross Blue Shield of Michigan, a nonprofit mutual insurance company, is an independent licensee of the Blue Cross and Blue Shield Association. BCBSM provides health benefits to more than 4.6 million members residing in Michigan in addition to employees of Michigan-headquartered companies residing outside the state. The company has been committed to delivering affordable health care products through a broad variety of plans for businesses, individuals and seniors for more than 80 years. Beyond health care coverage, BCBSM supports impactful community initiatives and provides leadership in improving health care. For more information, visit bcbsm.com and MiBluesPerspectives.com.

About AF Group
AF Group is a nationally recognized holding company whose affiliated insurance brands are premier providers of innovative, specialty and workers' compensation insurance solutions offered through independent agents nationwide. All policies are underwritten by a licensed insurer subsidiary. For more information, visit afgroup.com. © AF Group.

About AmeriTrust Group, Inc.
Founded in 1955, AmeriTrust Group, Inc. is a nationally recognized commercial insurance underwriter and insurance administration services provider in the commercial property and casualty insurance industry. AmeriTrust is comprised of four distribution segments of the insurance marketplace: admitted carrier operations, excess & surplus lines carrier operations, wholesale MGU/MGA and third-party administration operations, and retail insurance agency operations. AmeriTrust offers a broad range of insurance solutions, including specialty products to independent agencies, governmental entities, select industry, trade and professional associations, and affinity partners. Carrier operations include five insurance companies which are licensed on both an admitted and non-admitted basis. For more detail, visit ameritrustgroup.com.

Contact:
Shannon Scholten
(517) 708-5625
[email protected]
afgroup.com

SOURCE AF Group