AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of the members of AmeriTrust Group (AmeriTrust), whose principal insurance subsidiaries operate under an intercompany reinsurance pooling agreement. AmeriTrust is headquartered in Southfield, MI. In addition, AM Best has revised the Credit Rating (rating) outlooks to stable from positive. (See below for a listing of the rated AmeriTrust insurance subsidiaries).

The ratings reflect AmeriTrust’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. In addition, AmeriTrust’s ratings benefit from rating enhancement, in the form of lift, due to support provided by its parent, Accident Fund Insurance Company of America (Accident Fund).

The ratings upgrade for AmeriTrust reflects its increased strategic importance to Accident Fund and its substantially complete integration. Accident Fund closed on its acquisition of AmeriTrust in January 2023 and has actively integrated AmeriTrust into its operations. AmeriTrust has benefited from these integration efforts, which include expanding product diversification efforts, pricing initiatives, enhancing customer experience, expense optimization through efficiencies and process improvement, and implementing enhanced claim strategies.

AmeriTrust will continue to benefit from Accident Fund’s scale and expertise, as well as from the financial strength of the ultimate parent, Blue Cross Blue Shield of Michigan Mutual Insurance Company.

AM Best has upgraded the FSR to A (Excellent) from A- (Excellent) and the Long-Term ICRs to “a” (Excellent) from “a-” (Excellent). In addition, AM Best has revised the outlooks to stable from positive for the following members of the AmeriTrust Group:

• Star Insurance Company
• Century Surety Company
• ProCentury Insurance Company
• Williamsburg National Insurance Company
• Ameritrust Insurance Corporation

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 pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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 over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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