August 1, 2025 by matray

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Professionals Advocate Risk Retention Group, Inc. (ProAd RRG) (Hunt Valley, MD), a new subsidiary of Medical Mutual Liability Insurance Society of Maryland (Med Mutual). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect ProAd RRG’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

Concurrently, these rating assignments follow the successful execution of a quota share reinsurance agreement with Med Mutual and the assignment of an “r” reinsurance affiliation code. Med Mutual’s ratings have been extended to ProAd RRG due to the significant level of reinsurance support provided to ProAd RRG by Med Mutual.

ProAd RRG allows for greater underwriting flexibility in other territories. The company plans to write medical professional liability coverage. ProAd RRG was established on January 1, 2025, and was capitalized by Med Mutual’s subsidiary, Professionals Advocate Insurance Company, through a surplus note.