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AM Best, the rating agency has reported that using AdVantage collateralized insured class of company helped Bermuda based insurance and Reinsurance firm Vantage Group become more profitable. It also drove a source for accretive earnings.
Vantage Risk, as we have reported previously, has plans to leverage capital from third parties in a wider range of underwriting areas in the future. It has more than $1.5 billion in capital that it can deploy in 2024 using its AdVantage collateralized insurance class of company.
AdVantage had helped the company raise around $1 billion for property catastrophe reinsurance through 2023 renewals. However, it now has increased commitments from new capital partners and anchor investors, as well as a desire to expand beyond nat cat.
AM Best’s AdVantage strategy has proven to be successful for the company, regardless of its ambitions.
AM Best confirmed the ratings of Vantage Risk, its US-based underwriting subsidiary and commented last week on the decision to underwrite the property catastrophe risks from its own balance sheet.
