Genesis Legacy Solutions (GLS), part of Maiden Holdings, has agreed to provide an adverse development cover (ADC) to Arizona-based Applied Medico-Legal Solutions Risk Retention Group (AMS RRG).
This ADC transaction helped accomplish AMS RRG’s goal to achieve an upgraded financial rating by AM Best and enhances AMS RRG’s capital position which they expect will facilitate additional growth.
Brian Johnston, CEO of GLS, commented: “We are delighted to have worked closely with AMS and broker, BMS Re, to provide this ADC cover from our Vermont cell to achieve an A- rating by AM Best and stronger capital position for AMS.
“GLS is well positioned for continued success in 2022 with a robust pipeline of legacy opportunities from a variety of sources.”
BMS Re acted as the broker for the transaction and is part of AMS RRG’s strategy to achieve an A- initial rating by AM Best, which it did in December 2021. AMS RRG feels that this enhances its capital position and will facilitate additional growth.
