People Moves: Vantage Promotes Granda to Head of Political Risk and Credit; Miller Taps Rance From Price Forbes Re to Lead Reinsurance Strategy and Innovation

This edition of International People Moves details appointments at the Bermuda-based re/insurer Vantage Group Holdings and the insurance broker Miller.

A summary of these new hires follows here.

Vantage Promotes Granda to Head of Political Risk and Credit

Vantage Group Holdings Ltd., the Bermuda-based re/insurer, announced the promotion of Lila Granda as head of Political Risk and Credit (PRC).

Effective immediately, she joins the group’s Insurance leadership team and reports to Alex Blanco, insurance chief executive.

As head of PRC, Granda will assume leadership responsibilities for the respective team and oversee the group’s PRC portfolio, ensuring discipline, diversification, and consistent application of PRC underwriting strategy and risk appetite. She is also the senior risk manager of Political Risk and Credit.

Granda joined Vantage in 2021 as a Political Risk & Credit — senior risk manager. She has more than 20 years of experience in underwriting and managing risks in the credit and political risk insurance industry. She has held senior positions at Zurich and the US Overseas Private Investment Corp. (OPIC), now known as the US International Development Finance Corp. (DFC).

At Zurich, Granda served as the technical underwriting director for Credit and Political Risk, where she played a crucial role in risk appetite and underwriting strategy development, portfolio monitoring and analysis, and expanding regional offices. At OPIC, Granda held several roles, including international economist; insurance officer for Eastern Europe & Former Soviet Union; insurance officer for Latin America & Caribbean, and regional manager of Latin America & Caribbean. In early 2024, she was nominated to become the chair of the Medium/Long-Term export credit panel at the Berne Union, the leading global association of the export credit and investment insurance industry.

“We’re delighted to announce Lila’s promotion to head of Political Risk and Credit,” Blanco stated. “She has been a valuable team member, and her extensive experience and deep understanding of the global political landscape have been instrumental to our success. We’re confident that she will lead our team to new heights, continue to help our clients navigate today’s dynamic risk environment, and further build our momentum toward sustained profitability.”

Established in late 2020, Vantage’s operating subsidiaries are Vantage Risk Ltd., Vantage Risk Assurance Co., and Vantage Risk Specialty Insurance Co. — all rated “A-” (Excellent) by AM Best (as of February 2024).

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Miller Taps Rance From Price Forbes Re to Lead Reinsurance Strategy and Innovation

Miller, the London-based independent specialist re/insurance broker, announced two appointments to its growing reinsurance practice, with Steven Rance joining as head of Reinsurance Strategy & Innovation, and Charlotte Lowe joining as an account handler.

Rance joins from Price Forbes Re, where he led its specialty division (Inver Re), bringing more than 35 years’ experience in the global financial services arena. He spent six years as a managing partner at Gallagher Re, which he joined in 2017 (then Capsicum Re) to establish and lead its global mortgage risk reinsurance division. With particular specialisms in credit-risk related services such as portfolio structuring, insurance and regulatory capital relief (SRT) generation, Rance has held a number of senior roles across mortgage and credit risk insuring, broking and consulting – working with banking, lending, housebuilder, and government clients across the US, Europe, Asia, Africa & South America.

In 2012, Rance developed and implemented the UK’s first government-backed mortgage insurance scheme, called NewBuy, reaching over 80% of UK mortgage lenders and more than 100 housebuilders. Rance’s unique experience and relationships resulting from NewBuy led directly to his creation and delivery of Deposit Unlock, a nationwide mortgage insurance scheme for over 90 UK housebuilders.

In his role at Miller, Rance reports to Shaun Sinniah, Miller’s head of Reinsurance and Capital, and will work with the global team to support the expansion and shape the strategy of the broker’s rapidly growing reinsurance offering.

Rance is the latest in a series of senior Miller reinsurance appointments across London, Bermuda and APAC over the past two years, including the buildout of a dedicated APAC treaty reinsurance team.

Joining Rance on Miller’s reinsurance team is Charlotte Lowe, who also joins from Price Forbes Re where she was a broker. With specialty experience across housebuilders and captives, Lowe previously worked for Gallagher Re.

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