Vantage draws team from AXA XL to expand into new business lines

Specialty re/insurance group  Vantage Risk has launched its construction and political risk businesses and expanded distribution capabilities, with the hiring of several senior leaders from AXA XL and Everest Re Group.

Vantage was established in late 2020 and began writing reinsurance risk on January 1, 2021, through its Bermuda Class 4 company Vantage Risk. The Bermuda carrier has since expanded its offering to include select insurance products.

In the US, Vantage launched a US surplus lines carrier, Vantage Risk Specialty Insurance Company, enabling certain US risks to be written on A- (Excellent)/Financial Size Category XII AM Best rated paper.

Vantage CEO Greg Hendrick (pictured) commented: “It is exciting to see our business plan taking shape as we onboard new talent and build out our capabilities across the Vantage enterprise. Our team is highly energised and bringing creativity to the way we are building out our businesses, and that is proving to be very welcomed by clients and brokers.”

The company's new construction insurance business in the US will be led by Jason Lamonica, who has experience in all aspects of the property & casualty insurance industry. Lamonica most recently served as profit center head of subcontractor default insurance at AXA XL. Combining insights generated from his broad spectrum of product leadership, production management and profitability analysis, Vantage believes he will deliver fresh perspectives and clear assessments of its clients’ risks.

Lamonica will be joined by Megan Fletcher, SVP and head of construction – subcontractor default insurance, and Lawrence Lejfer, SVP and head of construction professional & pollution lines of insurance. Both bring more than 15 years of prior experience, most recently with AXA XL.

In the political risk team, Dan Riordan joined Vantage in May 2021 as global head of political risk & credit and has already begun building a team of experts. Riordan has over 30 years of experience, having held senior roles at AXA XL, Zurich, and the US Overseas Private Investment Corporation.

Riordan is supported by a team of leaders with decades of experience underwriting political and credit risks, including Richard Abizaid, Javier Gomez and Jamie Brache as vice presidents & senior underwriters, supported by Lila Granda as senior risk manager.

Furthermore, Vantage has hired Dane Lopes as chief commercial officer, insurance to lead its insurance distribution and client management efforts as well as supporting marketing and communications across the group. Lopes held similar senior roles at Everest Re Group, following more than 25 years of sales, marketing and business transformation experience.

Riordan said: “With our team’s expertise in underwriting innovative solutions for our clients, we are well positioned to grow the Vantage book of Political Risk and Credit Insurance and help our clients trade and operate across the globe. We have been well received in the market and we look forward to building long-term relationships with our broker partners and clients in the months and years to come.”

Hendrick added: “Dane’s role will allow us to fine tune our enterprise-wide distribution capabilities. I am very excited to continue building our partnership approach to our business, and Dane’s skills and experience will be a huge asset to Vantage as we build beyond our inaugural year as a specialty re/insurer.”

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