Sixth Street-backed Enstar Group to acquire AF Group from Blue Cross Blue Shield of Michigan.

Sixth Street-backed Enstar Group, a global insurance and reinsurance group, agreed to acquire AF Group, a provider of specialty insurance solutions, from Blue Cross Blue Shield of Michigan, a nonprofit mutual insurance company. Financial terms were not disclosed. The transaction positions AF Group for future success, while strengthening Blue Cross's financial foundation and capital flexibility, furthering its core commitment to delivering high-quality, affordable health care services to members and group customers. The transaction is subject to customary closing conditions and regulatory approvals.