HAMILTON, Bermuda–(BUSINESS WIRE)–Vantage Group Holdings Ltd. (Vantage), a specialty re/insurance group launched in 2020, continues to deliver on its growth plans through the acquisition of an Illinois domiciled domestic surplus lines insurance company licensed in 47 states. Re-named as Vantage Risk Specialty Insurance Company, the acquired company has secured an A- (Excellent) AM Best Rating, extending the current A- rating held by Vantage.
Through the second quarter of 2021, senior-level underwriting hires were announced in financial lines, healthcare, excess casualty and political risk & credit. Vantage initially launched its U.S. insurance business in May 2021 by entering into a strategic partnership with a leading property and casualty insurance carrier operating across the U.S. That partnership allowed the experienced underwriting teams at Vantage to issue policies in selected lines of business with full access and authority to highly rated paper in all 50 states.
Commenting on these developments, Greg Hendrick, Vantage CEO said, “This acquisition is a critical step in developing our U.S. business operations, enabling our teams to underwrite through our own subsidiary. We are very pleased to have our current A- (Excellent) AM Best rating extended to this new Vantage entity. Partnering with a nationally recognized industry leader earlier this year enabled Vantage to immediately enter the U.S. marketplace as we built our U.S. platform. This acquisition, coupled with our strategic partner relationship, positions Vantage to provide U.S. insurance protection where it is needed. These transactions continue our planned growth trajectory and reflect our commitment to underwriting business where existing capacity is shrinking, leveraging our opportunity in the Specialty Insurance marketplace.”
Vantage began writing reinsurance risk on January 1, 2021 through its Bermuda Class 4 company, Vantage Risk Ltd. (Vantage Risk). Initially writing property catastrophe and specialty reinsurance products, Vantage Risk has expanded its offering to include financial lines, healthcare and excess casualty insurance products. This comes on top of launching AdVantage Retro I Ltd., a collateralized reinsurer established to allow investors to partner with Vantage Risk to access selected reinsurance risks, and the sponsoring of Vantage Risk’s first catastrophe bond, issued by Bermuda special purpose insurer Vista Re Ltd.
Vantage Group Holdings Ltd. (Vantage) is a re/insurance partner designed for the future. Driven by relentless curiosity, our team of trusted experts provides a fresh perspective on our clients’ risks. We add creativity to tech-enabled efficiency and robust analytics to address risks others avoid.
The Carlyle Group and Hellman & Friedman, global investment firms with successful track records and experience in the re/insurance industry, are lead investors.
For more information, please visit www.vantagerisk.com/.
For further information, please contact:
Meridith Bridge, Vested [email protected]