Vantage
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The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value. -
Brant Loucks is one of four promotions across the Capital Partnerships and reinsurance units.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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Fales will focus on creating investment opportunities for the carrier’s specialty reinsurance portfolios.
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The carrier is designing an investable portfolio of long-tail risk.
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The cost of maintaining a team to service institutional investors does not always weigh favourably versus bringing in ILS capital.
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The second iteration of the Bermuda sidecar has brought in additional investors.
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The executive first joined Vantage in 2021 after stints at Hamilton and Allied World.
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The move comes amid a general cutback from reinsurers’ in their cat risk appetite.
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Cat bond spreads settled 11% above sponsor targets as many deals were scaled back or parked.
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Pricing has settled at 14.5%, above the initial 12.25%-13% target.
