July 18, 2023
AF Group Completes its Acquisition of AmeriTrust Group
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.”
June 13, 2023
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