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Average incident costs for SMEs were up nearly 30%. -
The Chicago-based executive was previously Everest’s CUO of excess casualty.
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The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.
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As data privacy litigation increases, insurers increasingly lean on exclusions.
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A process has not been launched and a firm timeline for a liquidity event has not been agreed.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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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 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.
