Enstar Group Acquires Accident Fund to Expand U.S. Presence
Enstar Group Limited, a leading entity in the insurance and reinsurance industry, has entered a definitive agreement to acquire Accident Fund Holdings, Inc. from Blue Cross Blue Shield of Michigan. This strategic acquisition, involving 100% of Accident Fund's shares, leverages investment vehicles managed by affiliates of Sixth Street, a global investment firm, and marks a significant expansion into the U.S. insurance market.
Accident Fund Holdings, hailing from Lansing, Michigan, has a long-standing reputation for delivering robust insurance products through its various affiliate brands. Established in 1994 under the ownership of Blue Cross, the company has become a formidable player in the property and casualty landscape, with a keen focus on regulatory compliance and disciplined underwriting. In 2025, it reported an impressive gross written premium of $3.3 billion, underscoring its profitability and risk management expertise.
The merger is poised to combine AF Group's experience in commercial and specialty insurance with Enstar's extensive capabilities in workers’ compensation and financial backing. Following the acquisition, AF Group will operate as a wholly owned subsidiary of Enstar, with its leadership team intact, benefiting from Enstar's resources to enhance service delivery to a broader clientele globally.