Enstar agrees to buy AF Group from Blue Cross

Sixth Street-backed reinsurer Enstar Group has agreed to get 100% of Accident Fund Holdings (AF Group) from Blue Cross Blue Shield of Michigan.

Financial presumption of the woody stay undisclosed.

Based successful Lansing, Michigan, AF Group has a agelong past successful the security sector, operating done assorted affiliate brands for much than 100 years.

Under the ownership of Blue Cross Blue Shield of Michigan since 1994, the institution has expanded crossed each 50 US states and present provides commercialized and specialty insurance.

In 2025, AF Group reported consolidated gross written premiums of $3.3bn.

AF Group president and CEO Lisa Corless said: “This transaction combines our expertise, underwriting subject and people-first civilization with Enstar’s proven marketplace acquisition and fiscal strength.

“Aligned with our halfway offerings and beardown committedness to lawsuit centred service, this concern volition enactment continuity for cause partners, policyholders and clients, and volition alteration america to physique connected our instauration of excellence.”

Post completion of the deal, AF Group volition go a wholly owned subsidiary of Enstar and proceed operating independently with its existent enactment team.

Completion of the woody is anticipated successful the 2nd fractional of 2026, contingent connected regulatory approvals and different closing conditions.

Enstar CEO Dominic Silvester said: “This transaction is simply a compelling unrecorded marketplace accidental that brings unneurotic 2 organisations with complementary strengths and communal values. Enstar and our partners astatine Sixth Street are committed to moving alongside AF Group arsenic it executes its strategical plans.

“Our equilibrium expanse strength, plus and liability absorption expertise and beardown fiscal spot ratings supply a coagulated level for AF Group’s future, portion enabling america to grow our offering of some prospective and retrospective security solutions.”

Last year, bequest specializer Enstar went backstage aft its acquisition by concern vehicles managed by affiliates of Sixth Street for an equity worth of $5.1bn.

"Enstar agrees to bargain AF Group from Blue Cross" was primitively created and published by Life Insurance International, a GlobalData owned brand.

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