Vantage Announces the Launch of Healthcare and E&S Excess Casualty Insurance Businesses in Bermuda and the US
HAMILTON, Bermuda–(BUSINESS WIRE)–Vantage Group Holdings Ltd. (Vantage) is pleased to announce it continues the build-out of its insurance platform, introducing new product offerings in Healthcare and Excess Casualty.
Vantage was established in late 2020 and began writing reinsurance risk on January 1, 2021, through its Bermuda Class 4 company, Vantage Risk Ltd. The Bermuda carrier has since expanded its offering to include select insurance products. In the US, Vantage launched a US surplus lines carrier, Vantage Risk Specialty Insurance Company, enabling certain US risks to be written on A- (Excellent)/Financial Size Category XII AM Best rated paper.
Commenting on the launch of these businesses, CEO Greg Hendrick said, “The depth of experience of our Healthcare and Excess Casualty teams, and their long-standing industry relationships are highly valuable as we build out the Vantage product offering in our first year of operations. I am appreciative of the energy and enthusiasm of these teams to bring their best risk insights and solutions for our clients.”
Bermuda Healthcare and Excess Casualty
Denise Watkins joined Vantage in June 2021 and heads the Excess Casualty and Healthcare Insurance business in Bermuda. Denise brings over 23 years of US and Bermuda underwriting experience, most recently as Senior Vice President of Excess Casualty and Healthcare at Sompo International in Bermuda. Denise earned a Bachelor’s degree in Finance and Risk Management from the University of South Carolina and holds RPLU and CPCU designations.
Denise has assembled an experienced underwriting team at Vantage, including Cherie Edwards and Samantha Mohs. Collectively, her team has extensive US and Bermuda Excess Casualty and Healthcare Liability lead and excess lines experience.
The Bermuda team is focused on providing customized solutions and maintains a commitment to responsiveness. They work with Wholesale distribution partners to provide Insurance and Captive Reinsurance on occurrence, claims made and integrated occurrence policy forms, as well as punitive damages and punitive damage wrap coverage. Their Excess Casualty portfolio will target classes of business including transportation, construction, consumer products, real estate, retail, hospitality, manufacturing and chemical. In Healthcare Liability their clients are primarily hospital systems and facilities, including academic medical facilities, specialty medical centers and managed care facilities.
US Healthcare
Ray Pernsteiner joined Vantage in March 2021 and leads the US Healthcare team. Ray has worked in the insurance industry since 1988, focused solely on medical professional liability for all client segments. He most recently held various key leadership positions at Arch Insurance Group for more than 18 years. Ray earned a Bachelor’s in Business Administration from the University of Wisconsin – Eau Claire, and holds RPLU, CPCU and ARe designations.
Since March, Ray has assembled a team of Healthcare specialists, with Anna Rockers, Dmitry Burtman and Nick Williams leading as Regional Vice Presidents of Central and Western, Southeast, and Northeast regions respectively. Additionally, with over 20-years of experience, Amy Berg joins the team to provide Business Management support.
The Vantage US Healthcare underwriters leverage an experienced team of claims and actuarial resources to craft responsive insurance liability coverage for complex risks needing specialization. Coverage is provided for both insurance and reinsurance of captives for Healthcare Excess Liability. Clients span the spectrum from health systems, integrated delivery networks, to excess physicians and miscellaneous facility-type based risks.
The delivery of healthcare continues to evolve because of rapid changes in advancement of medicine and medical technology. As a result, there is a growing number of Miscellaneous Medical Facilities in the Healthcare arena. The US Healthcare team at Vantage is targeting this growth and is focused on specialized coverages tailored for this sector. Those include primary and excess professional liability, general liability, and umbrella coverages, with a broad appetite across class segments. They consider business across a wide range of classes of Middle Market-type accounts, distributed primarily through Wholesale distribution channels. Umbrella excess of self-insured retention healthcare professional liability and retail placements of US Healthcare Systems products are expected to be offered starting in October 2021.
Greg Hendrick added, “At a time when risk is gaining complexity and the need for Excess Casualty and Healthcare capacity is increasing, the ability for Vantage to offer up to $15 million of excess capacity in these lines of business has been a welcome increase in market capacity. Denise and Ray are important additions to the Vantage Insurance Leadership Team, and I look forward to seeing their businesses develop further in the months and years ahead.”
About Vantage:
Vantage Group Holdings Ltd. (Vantage) is a re/insurance partner designed for the future. Driven by relentless curiosity, our team of trusted experts provides a fresh perspective on our clients’ risks. We add creativity to tech-enabled efficiency and robust analytics to address risks others avoid.
The Carlyle Group and Hellman & Friedman, global investment firms with successful track records and experience in the re/insurance industry, are lead investors.
Disclaimer:
The information contained herein is not an offer to sell, or a solicitation to buy, any particular insurance product. No insurance product is offered or will be sold in any state or jurisdiction in which such offer or solicitation would be unlawful under the laws of such state or jurisdiction. Vantage Risk Specialty Insurance Company is not licensed in all states, and products are not available other than through a licensed surplus lines broker. Vantage Risk Ltd. is not licensed, or otherwise authorized, to conduct business in the United States and does not engage in or transact any business in the United States. Business is written in Vantage Risk Ltd. through Bermuda brokers only. Insurance policies issued by these entities are not protected or guaranteed by state insurance guaranty associations or insolvency funds.
For more information, please visit www.vantagerisk.com/
Contacts
For further information:
Meridith Bridge, Vested vantage@fullyvested.com
917-545-4118
