Vantage Risk Ltd., a newly established insurance and reinsurance business, has received its all-important Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” from AM Best.
The outlook assigned to these credit ratings is stable, with AM Best highlighting the reinsurer’s very strong balance sheet strength, adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
Vantage is set to launch with industry veterans Dinos Iordanou as Non-Executive Chairman, and Greg Hendrick as Chief Executive Officer (CEO).
AM Best highlights the company’s established and noteworthy industry professionals with proven track records in the industry, as well as its intentions to move into primary insurance in the future and operate as Vantage Group.
“The very strong balance sheet assessment is based on Vantage’s financing structure that projects supportive risk-adjusted capital that meets AM Best’s guidelines for newly formed organizations. This incorporates supportive risk-adjusted capital levels through a five-year start-up period,” explains the ratings agency.
The new re/insurer launches with Hellman & Friedman (H&F) and The Carlyle Group as capital partners, both of which have significant experience with insurance and reinsurance startups.