Meadowbrook changes name to AmeriTrust
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Meadowbrook Insurance Group Inc., a specialty commercial insurance underwriter and insurance administration services company, on Tuesday said it has changed its name to AmeriTrust Group Inc.
AmeriTrust plans to increase its business by expanding distribution channels for customers to purchase insurance products and services more directly, the company said in a statement. AmeriTrust is led by a new management team, which has been in place since November 2016.
Chinese conglomerate Fosun International Ltd., owned by billionaire businessman Guo Guangchang, bought Southfield, Michigan-based Meadowbrook in 2014 for $433 million in the first full purchase of a U.S. insurer by a Chinese company.
“Our growth plans include acquisitions of insurance carriers, and retail and wholesale insurance agencies,” Kenn R. Allen, president and CEO of AmeriTrust, said in the statement. "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."
The names of the insurance subsidiaries owned and operated by AmeriTrust will remain unchanged. These subsidiaries include Meadowbrook Insurance Agency, Mackinaw Administrators, Ameritrust Insurance Corp., Century Surety Co., ProCentury Insurance Co., Savers Property & Casualty Insurance Co., Star Insurance Co. and Williamsburg National Insurance Co.
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