Meadowbrook Insurance Group has changed its name to AmeriTrust Group, Inc., close to three years after Chinese conglomerate Fosun International bought the company.
The company’s management team, in place since November 2016, said the name change is meant to position the company toward expansion and looking to the future.
“This corporate name change turns the page toward the future,” AmeriTrust President and CEO Kenn Allen said in prepared remarks.
Allen said that growth plans include acquisitions of insurance carriers as well as retail and wholesale insurance agencies. The Michigan-based company will continue to operate as the U.S. based insurance holding company for Fosun, which agreed to buy Meadowbrook in December 2014 for $433 million, giving it significant access to the U.S. property/casualty insurance market.
AmeriTrust/Meadowbrook has more than 20 U.S. locations and 900-plus employees. The company markets and underwrites specialty insurance programs and products on both an admitted and non-admitted basis in areas including workers compensation, general liability, commercial multi-peril and commercial auto.
Agencies, claims and loss prevention facilities, self-insured management organizations and six property/casualty insurance underwriting companies are part of the AmeriTrust corporate mix.
AmeriTrust said that its various subsidiaries will keep their names, including Meadowbrook Insurance Company, Mackinaw Administrators and Ameritrust Insurance Corp.
Source: Fosun/AmeriTrust Group