AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Vantage Risk Specialty Insurance Co. (Vantage Risk) in Chicago. Vantage Risk is a newly added member to Vantage Group Holdings Ltd.
The outlook assigned to the rating is stable.
The ratings reflect Vantage Risk’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.
Vantage Group Holdings acquired Vantage Risk to write excess and surplus (E&S) lines for the greater group. The acquisition of an E&S company was part of the group’s business plan since the onset of operations.
While the group is still in the process of hiring some key executive positions for primary insurance lines, many of the executive staff have experience managing similar types of operations at other large companies.
Vantage Group Holdings Ltd. injected roughly $85 million into Vantage Risk upon closing of the acquisition, bringing the total capitalization to $100 million. In addition, Vantage Risk will benefit from common management, branding and financial flexibility of the greater Vantage Group Holdings Ltd.
Source: AM Best
Topics Excess Surplus Illinois
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