Vantage Group GWP Now Over $800M, Insurance Growth On Track: Blanco

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Since writing its first insurance policy in mid-2021, Bermudian Vantage has grown combined group gross written premium to over $800mn as of the end of last year by focusing on talent, technology and riding the strong growth in the E&S market, CEO of insurance Alex Blanco told Inside P&C.

When launched, Vantage had a rough benchmark of achieving about a 75:25 split insurance to reinsurance, according to founder Greg Hendrick, and the carrier could end up around those numbers, possibly 70:30, at the end of 2023, Blanco said.

“From early days, we embarked on building a specialty franchise, always envisioning an insurance and reinsurance platform. So ultimately, the relative size between insurance and reinsurance, while important, really must be put through a larger, more meaningful length lens of the entity that we’re trying to build,” Blanco said.

This publication revealed in December that Vantage had stopped writing property cat reinsurance risk on its balance sheet, an underperforming class of business at the time, and instead was offering clients collateralized capacity using third-party funds. Blanco called the pivot “an incredible story” given the capital committed to do it.