Best’s News & Research Service - March 31, 2022 12:55 PM (EDT)
AM Best Assigns Credit Ratings to Vantage Risk Assurance Company
- March 31, 2022 12:55 PM (EDT)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Credit Rating of “a-” (Excellent) to Vantage Risk Assurance Company (VRAC) (Topeka, KS). The outlook assigned to these Credit Ratings (ratings) is stable. VRAC is a newly added member to Vantage Group Holdings Ltd.
The ratings reflect VRAC’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile, and appropriate enterprise risk management.
Vantage Group Holdings Ltd. acquired VRAC to write admitted business for the greater group. The acquisition of an admitted writer was part of the group’s business plan since the onset of operations. As the greater Vantage Group Holdings Ltd. continues to bring underwriting to scale, VRAC is expected to contribute a material percentage of the group’s overall premium. Vantage Group Holdings Ltd. contributed $85 million of capital to the company, bringing total capital levels to approximately $100 million. Additionally, VRAC will benefit from common management, branding and financial flexibility of the greater Vantage Group Holdings Ltd.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.