Accident Fund Insurance Company of America entered into a definitive agreement to acquire AmeriTrust Group, Inc. from Fosun International Limited for $740 million.

Accident Fund Insurance Company of America entered into a definitive agreement to acquire AmeriTrust Group, Inc. from Fosun International Limited (SEHK:656) for $740 million on April 12, 2022. AF Group is using the strong balance sheet of Accident Fund Insurance Company of America to finance the transaction. The acquisition is expected to be completed before the end of 2022 after obtaining regulatory approvals.

Stonybrook Capital LLC acted as financial advisor to Accident Fund Insurance Company of America while Deutsche Bank acted as financial advisor to Fosun International. Paul Chen of Mayer Brown LLP acted as legal advisor to Fosun International Limited (SEHK:656).