Credit ratings agency AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- (Excellent) of Vantage Risk Ltd. (Bermuda) and its affiliates, effectively removing the firm from under review with developing implications after its recent acquisition by Howard Hughes Holdings (HHH).
On June 4th, 2026, HHH acquired Vantage Group from Carlyle and Hellman & Friedman for approximately $2.1 billion. Vantage Group operates in insurance, reinsurance, and insurance-linked securities.
According to AM Best, the affirmation reflects Vantage’s “very strong” balance sheet strength, adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best’s positive outlook reflects its expectation that over the near term, the group will continue to expand its presence in the specialty and reinsurance markets and execute its business plans post-acquisition.
The rating agency recognises the independence of Vantage Group under its new ownership group, and expects that it will benefit from future infusions of capital rather than dividend outflows. These assumptions will be monitored closely under its new ownership structure.
A Vantage spokesperson said, “AM Best has affirmed Vantage’s A- financial strength rating with a positive outlook and lifted the under-review status assigned in December 2025. AM Best’s affirmation and the $200 million capital injection at closing point to the same conclusion: Vantage’s operating fundamentals and capital position are consistent with — or enhanced from — what supported the A- AM Best rating since 2020. Under Howard Hughes’ permanent capital structure, Vantage remains focused on disciplined underwriting and profitable growth.”
