NEW YORK, NY: 7 February 2022 – Best Practices Medical Partners (BPMP), the holding company for Applied Medico-Legal Solutions Risk Retention Group (AMS RRG) and affiliated subsidiaries, has secured a US$40 million investment from Kilter Finance, a KKR-backed, insurance-focused specialty finance company to support AMS RRG’s underwriting growth and execution of its ongoing strategic initiatives.
BMS Capital Advisory, the investment banking arm of leading independent specialist insurance and reinsurance broking group BMS Re, acted as the exclusive advisor to BPMP. In its advisory role, BMS Capital Advisory acted collaboratively and seamlessly with BMS Re’s Legacy Practice and Ratings Advisory Unit.
Richard Welch, CEO of BPMP, said: “Led by BMS Capital Advisory and with the collective institutional knowledge and market experience possessed by BMS Group professionals, we were successful in attracting investment from an excellent source of capital in Kilter Finance. Leveraging 20 years of proven leadership in the professional liability market, our company has partnered with a specialist in the insurance and asset management sectors, and we look forward to continue our mission of providing high value medical liability insurance and enterprise risk management solutions to our current and future members.”
Romulo Braga, CEO of BMS Capital Advisory, added: “BMS, as a whole, remains purposefully committed to identifying and delivering capital and risk management solutions in an effective, efficient, and agnostic manner. As such, we are very pleased to have facilitated this successful transaction, which is validation of BPMP’s market-leading executive team, insurance and distribution operations.”
ABOUT BEST PRACTICES MEDICAL PARTNERS LLC
Best Practices Medical Partners LLC, the holding company for AMS RRG and affiliated subsidiaries, operates to provide superior clinical risk management services to the organizations nationwide at risk for medical liability.
Domiciled in Arizona as a domestic casualty insurance company since 2003, AMS RRG provides high value medical liability insurance and enterprise risk management solutions, with unparalleled service to members located throughout the United States. AMS RRG’s risk management contributes to its success by offering a unique program that engages member physicians in initiatives focused on reducing errors and risks, with key objectives of overall claims reduction and improved operating profitability. Comprised of experienced and trusted healthcare executives, medical leaders, and insurance professionals, the Company’s executive offices are located in Florida, New Jersey, Texas, New York and Connecticut. AMS RRG is rated A- (Excellent) by AM Best, and A’ (A Prime), Unsurpassed by Demotech.
ABOUT KILTER FINANCE
Kilter Finance is a KKR-backed, insurance-focused specialty finance company. As of January 31, 2022, Kilter Finance has made commitments totalling approximately $200 million to four businesses with operations spanning the United Kingdom and United States of America.
As a permanent capital vehicle, Kilter Finance is first and foremost a solutions-led business, providing flexible, bespoke capital solutions to its clients. It is collateral, structure, territory, currency and tenor agnostic. The Kilter Finance management team are specialists in the insurance and asset management sectors. For additional details, please visit www.kilterfinance.com.
KKR, with $459 billion of assets under management as of September 30, 2021, is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
About BMS Capital Advisory
BMS Capital Advisory is a full-service broker-dealer created to expand BMS Group’s operational flexibility and bring alternative capital product offerings to current and prospective customers. Headquartered in New York City, with offices in Philadelphia and Minneapolis, BMS Capital Advisory advises insurance underwriters and distributors, private equity funds, and other institutional investors in the execution of select corporate finance engagements, such as mergers & acquisitions mandates and capital raise engagements, and insurance linked securities offerings.
BMS Capital Advisory, Inc. is a broker-dealer registered with the SEC and a member of FINRA (www.finra.org) and SIPC (www.sipc.org). BMS Group is a leading independent specialist (re)insurance broker with teams of experts in the fields of reinsurance, wholesale and direct insurance. For more information about BMS please visit www.bmsgroup.com