Log In

Reset Password

Vantage Risk breaks through with strong ratings

Vantage Risk Ltd has survived the significant impact to its underwriting income from elevated catastrophe losses in its reinsurance operations during its first year of operations.

In addition, employee turnover and market conditions in the group’s primary insurance operations resulted in lower primary insurance premium than originally anticipated, overweighting the impact of the reinsurance portfolio losses.

This from ratings agency AM Best, which affirmed the financial strength rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of the Bermuda company and its affiliate, Vantage Risk Specialty Insurance Company (Chicago, IL), which do business as Vantage Group.

The agency said the outlook of the ratings is stable.

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

As the group continues to execute on its business plans, the reinsurance portfolio will become relatively smaller than the primary portfolio and thus have less of an impact to the group’s bottom line.

Best said that despite these challenges, the group has continued to execute on many of its goals in its first year, hiring staff members at various levels and acquiring new primary insurance companies to support the business plans.

The agency said it will continue to monitor the group’s progression as it enters its second year of operation, anticipating that the group’s operating performance will begin to stabilise as its business plan is executed.

Vantage Risk Ltd’s Bermuda office at Chesney House, Pitts Bay Road, Pembroke (File photograph)

You must be Registered or to post comment or to vote.

Published December 06, 2021 at 7:57 am (Updated December 06, 2021 at 7:56 am)

Vantage Risk breaks through with strong ratings

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon