Insurance company

AM Best comments on the credit ratings of Accident Fund Insurance Company of America and its subsidiaries following the announcement of the acquisition of AmeriTrust Group

OLDWICK, NJ–(BUSINESS WIRE)–AM Best said the credit ratings (ratings) of Accident Fund Insurance Company of America (Accident Fund) (Lansing, MI) and its insurance subsidiaries remain unchanged following the announcement that it has agreed to acquire Star Insurance Company (Southfield, MI) and its subsidiaries (collectively, AmeriTrust Group). The transaction is subject to regulatory approvals and is expected to close before the end of 2022.

On April 12, 2022, Accident Fund announced that it had entered into a definitive agreement to acquire AmeriTrust Group from Fosun International Limited. AmeriTrust offers specialized insurance programs and products, including workers’ compensation insurance, commercial packages and coverage for automotive companies, as well as comprehensive product offerings in various industry segments.

AM Best expects Accident Fund to continue to maintain favorable risk-adjusted capitalization and overall balance sheet strength, which is rated very high. AM Best does not expect Accident Fund’s strong operating performance, neutral business profile and appropriate business risk management to be affected by the transaction. Following the closing of the transaction, AM Best will continue to discuss the progress of the transaction with Accident Fund management and assess its impact on operations.

This press release relates to credit ratings that have been published on AM Best’s website. For all rating information relating to the release and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit AM Best’s Recent Rating Activity web page. For more information on the use and limitations of credit rating opinions, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best’s Credit Scores, Best’s Performance Ratings, Best’s Preliminary Credit Ratings, and AM Best’s press releases, please see the Guide to Proper Use of Best’s Best ratings and reviews.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2022 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.