Blue Cross Blue Shield Of Michigan Subsidiary Af Group Announces Acquisition Of Ameritrust Group
04/12/22, 4:07 PM
Location
detroitIndustry
insurance
health care
financial services
AF Group, a wholly-owned subsidiary of Blue Cross Blue Shield of Michigan and a nationally-recognized holding company whose affiliated brands provide specialty and workers' compensation insurance solutions across the United States, has entered into a definitive agreement through its subsidiary Accident Fund Insurance Company of America to purchase AmeriTrust Group from Fosun. Headquartered in Southfield, Mich., AmeriTrust offers specialty insurance programs and products including workers' compensation, commercial package and automotive business coverages, and comprehensive product offerings in various industry segments. AmeriTrust is a financially strong company rated "A-" (Excellent) by A.M. Best. The acquisition is expected to be completed after obtaining regulatory approvals.
Company Info
Location
Detroit, Michigan, United States
Company info
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.