SOUTHFIELD, Mich., April 19, 2018 /PRNewswire/ -- On April 19, 2018, A.M. Best revised its outlook to positive from stable and affirmed the "B++ (Good)" Financial Strength Rating for the operating subsidiaries of AmeriTrust Group, Inc. The ratings reflect AmeriTrust's balance sheet strength, which A.M. Best categorizes as very strong, and reflects the positive steps taken by AmeriTrust's new executive team to improve underwriting results and develop a sustainable long-term business plan.
Kenn R. Allen, AmeriTrust's President and Chief Executive Officer, commented: "Over the past 18 months, our executive team has made significant enhancements to our business model, processes, and underwriting acumen. We are encouraged that A.M. Best has acknowledged these enhancements by upgrading our rating outlook to positive. I would like to thank our valued agency/broker partners for their continued support of AmeriTrust Group."
About AmeriTrust Group, Inc. Founded in 1955, AmeriTrust Group, Inc, (formerly Meadowbrook Insurance Group, Inc.), is a nationally recognized specialty, niche-focused commercial insurance underwriter and insurance administration services provider within the commercial property and casualty insurance industry. AmeriTrust is comprised of four distinct distribution segments of the specialty insurance marketplace: admitted carrier operations, excess & surplus lines carrier operations, wholesale MGU/MGA and third-party administration operations, and retail insurance agency operations.
AmeriTrust offers a broad range of insurance solutions to select industry, trade and professional associations, affinity groups, governmental entities and independent agents. Carrier operations include six insurance companies which are licensed on both an admitted and non-admitted basis in all 50 states. For more information please visit www.ameritrustgroup.com.
AmeriTrust Group, Inc. operates as the U.S.-based insurance holding company for Fosun International Limited.
About Fosun International Limited Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun's total assets exceed RMB500 billion (c.US$75 billion). With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world. For more information, please visit www.fosun.com.