MEADOWBROOK INSURANCE GROUP ANNOUNCES NEW CORPORATE NAME: AMERITRUST GROUP, INC.
PRESS RELEASE – SOUTHFIELD, MICHIGAN 10/24/2017
As a new example of the company’s evolution, Meadowbrook Insurance Group, Inc. announces that the company has changed its name to AmeriTrust Group, Inc. (AmeriTrust).
AmeriTrust begins as an autonomous, vertically integrated risk management organization with strategic business units designed to withstand economic cycles. The company plans to increase its business by maximizing distribution channels for customers (agents and clients) to purchase insurance products and services more directly. AmeriTrust is led by a new management team, which has been in place since November 2016. The new team has been actively working together, defining the strategies that form the core of AmeriTrust.
“This corporate name change turns the page toward the future,” said Kenn R. Allen, President and CEO of AmeriTrust. “It reflects the trust our clients have in our ability to provide best-in-class service, support and insurance solutions, as we have done in America for the past 62 years. We are committed to providing that trust for decades to come.”
The names of the insurance subsidiaries owned and operated by AmeriTrust will remain unchanged. These subsidiaries include Meadowbrook Insurance Agency, Mackinaw Administrators, Ameritrust Insurance Corporation, Century Surety Company, ProCentury Insurance Company, Savers Property & Casualty Insurance Company, Star Insurance Company, and Williamsburg National Insurance Company.
“Our growth plans include acquisitions of insurance carriers, and retail and wholesale insurance agencies,” added Allen. “Having recently centralized our core risk management functions, including underwriting, claims and loss control services, we have created a platform for growth as AmeriTrust Group. As one team and one company, AmeriTrust operates with a mantra of ‘urgency…integrity…and solutions.’ We are a global, innovative architect of risk management solutions for our clients.”
AmeriTrust Group, Inc. will operate as the U.S.-based insurance holding company for Fosun International Limited.
About Fosun International Limited
Fosun was founded in 1992 in Shanghai. Fosun International Limited (00656.HK) was listed on the Main Board of The Stock Exchange of Hong Kong Limited on July 16, 2007. Fosun has been persistently taking roots in China and investing in China’s growth fundamentals. It has been actively implementing its investment model of “Combining China’s Growth Momentum with Global Resources”. Fosun is dedicated to making a major stride towards becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “global industrial integration capability taking roots in China”. Today, Fosun’s businesses include two major segments, integrated finance and industrial operations. For more information, please visit www.fosun.com.