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Vantage Group Holdings received a BBB- long-term issuer credit rating. -
Her predecessor will become head of US excess casualty and operations.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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This follows the news that AmTrust will spin off some of its MGA businesses.
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The MGA business was valued at an enterprise valuation of upwards of $1.1bn, sources said.
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The specialty MGA said it didn’t experience direct losses from the LA wildfires.
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The executive joins from MSIG USA.
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The program, expected to start doing business next month, will be wholesale-only.
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It represents the platform’s formal entry into the commercial E&S market and will be led by EVP Neil Lipuma.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
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The business said it was experiencing strong momentum on the Island.
