Vantage enters US large property insurance sector

Bermuda-based insurer and reinsurer Vantage Group Holdings Ltd. said Thursday it will offer up to $10 million in primary and excess property insurance limits in the United States.

Vantage said the large property business, which will be offered on a nonadmitted basis, will be headed by New York-based David Burton Perry, who joined the company in January from Ibex Underwriters Inc., where he was the co-founder and CEO. Prior to Ibex, he spent three years at Swiss Re Ltd. and five years at Zurich Insurance Co. Ltd.

Mr. Burton Perry will report to Nicole Perrault, head of property.

Vantage also hired Alan Black as senior underwriter for the business. Previously, he worked at MSIG Holdings (Americas) Inc., a unit of Mitsui Sumitomo Insurance Co. Ltd., and Zurich.