SOUTHFIELD, Mich., March 4, 2019 /PRNewswire/ -- AmeriTrust Group, Inc. ("AmeriTrust" or the "Company") announced today that Kroll Bond Rating Agency, Inc. (KBRA) has assigned an insurance financial strength rating (IFSR) of "A-" to the Company's insurance carrier subsidiaries, which operate under an intercompany pooling agreement. The outlook for all ratings is "Stable".
The "A-" financial strength rating applies to all AmeriTrust's insurance carrier subsidiaries, listed below:
- Star Insurance Company
- Williamsburg National Insurance Company
- AmeriTrust Insurance Corporation
- ProCentury Insurance Company
- Century Surety Company
KBRA reported that the ratings for AmeriTrust's operating companies reflect its favorable operating metrics driven by strong surplus growth. KBRA further noted that AmeriTrust's combined ratio has improved considerably in recent years, and the Company has fostered a sound Enterprise Risk Management framework.
Commenting on these rating assignments, AmeriTrust President and CEO Kenn R. Allen stated: "The KBRA financial strength rating serves as testament to AmeriTrust's transformation initiatives. Our executive management team is fully committed to continuing to execute these initiatives."
A full report will soon be available on www.kbra.com.
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 five insurance companies which are licensed on both an admitted and non-admitted basis. 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.
SOURCE AmeriTrust Group, Inc.