Genesis Legacy Solutions (“GLS”), part of Maiden Holdings, Ltd. (NASDAQ: MHLD), announced today an agreement to provide an adverse development cover (“ADC”) to Arizona-based Applied Medico-Legal Solutions Risk Retention Group (“AMS”). AMS provides medical professional liability coverage to individual physicians and physician groups, and today is one of the nation’s premier physician risk retention groups. This ADC transaction helped accomplish AMS’ goal to achieve an upgraded financial rating by AM Best and enhances AMS’ 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.”
