AM Best Maintains Vantage Credit Ratings
AM Best confirmed that the credit ratings and positive outlook for Vantage Group remain unchanged following the company’s announced leadership changes.
The ratings agency said, “AM Best has commented that the Credit Ratings [ratings] of Vantage Risk Ltd. [Bermuda] and its affiliates, Vantage Risk Specialty Insurance Company and Vantage Risk Assurance Company [both domiciled in Wilmington, DE], which do business as Vantage Group, remain unchanged following an announced leadership change.
“Marc Grandisson, former CEO of Arch Capital Group Ltd. [NASDAQ: ACGL], has been appointed executive chairman of Vantage Group Holdings Ltd. [Vantage]. Additionally, David Gansberg, former president of Arch Capital Group Ltd., has been appointed CEO of Vantage. Grandisson’s appointment is effective immediately; however, Gansberg’s appointment will not take effect until June 2027. Until then, Grandisson will work with Vantage’s founding CEO, Greg Hendrick, through the transition.
“The appointments offer additional experienced industry leadership to the Vantage Group. While the transition represents a notable governance change following Howard Hughes Holdings Inc.’s [NYSE: HHH] acquisition of Vantage, the group’s balance sheet strength, operating performance, business profile, and enterprise risk management assessments remain unchanged. Additionally, the outlooks of these ratings remain positive.
“AM Best will continue to monitor the leadership transition through the remainder of Hendrick’s tenure and Gansberg’s transition into the new role, and potentially take rating action should any developments impact Vantage’s creditworthiness.”
