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Longtime industry executives Greg Hendrick and Dinos Iordanou on Thursday launched a Bermuda-based private equity-backed insurer and reinsurer.
Vantage Group Holdings Ltd. will operate Vantage Risk Ltd. and initially focus on reinsurance lines, the company said in a statement.
Vantage offers property/catastrophe reinsurance and specialty reinsurance coverage to international markets and plans to begin offering insurance in Bermuda and North America next year, the statement said. Initial insurance lines will include professional liability and excess casualty, according to the company’s website.
Private equity firms The Carlyle Group and Hellman & Friedman, together with Vantage’s management, have invested $1 billion in the company.
Mr. Hendrick is CEO of Vantage and Mr. Iordanou is nonexecutive chairman.
Previously, Mr. Hendrick was CEO of Axa XL, a unit of Axa SA, before a management shake-up earlier this year.
Mr. Iordanou retired as chairman and CEO of Arch Capital Group Ltd. in 2018.
Other senior Vantage staff include: Christopher McKeown, chief executive-reinsurance, innovation and ILS, who is a former CEO of New Ocean Capital Management Ltd.; Jack Kuhn, chief executive of insurance, who is a former CEO of global insurance at Sompo International Holdings Ltd.; Aurora Swithenbank, chief financial officer, who was a partner at Goldman Sachs Group Inc.; Peta White, who will join Vantage as president from Markel Corp. in January; and Nick Pritchard, head of property catastrophe, who previously was head of reinsurance at Neon Underwriting Ltd.