Applied Medico-Legal Solutions Risk Retention Group gets adverse development cover
US physician risk retention group AMS RRG has completed a legacy reinsurance transaction with a subsidiary of Genesis Legacy Solutions, providing adverse development cover (ADC).
The transaction is part of AMS RRG’s strategy to achieve an A- initial rating by AM Best, which it accomplished in December. It enhances the company’s capital position to facilitate additional growth.
BMS Re brokered the deal for AMS RRG in coordination with other areas of BMS, including its Capital Advisory, Ratings and Pathlight Analytics businesses.
Mory Katz, BMS Re legacy practice leader, said: “This transaction demonstrates how a legacy transaction can produce a positive outcome for even strong, well-capitalised companies. We are very grateful to have been given the opportunity to assist our valued client with this transaction.”
“At AMS RRG, we focus on providing valuable solutions to our members, and we look for the same in our partners,” said Richard Welch, CEO of AMS RRG. “We are happy to have had BMS along for our successful journey and look forward to doing more together in the future”.
