Credit rating agency AM Best has affirmed the Financial Strength Rating (FSR) of Vantage Risk Ltd. (Bermuda) and its subsidiaries at A- (Excellent) and the Long-Term Issuer Credit Rating of A- (Excellent), effectively relieving the company from scrutiny and the far-reaching consequences of its recent acquisition by Howard Hughes Holdings (HHH).
On June 4, 2026, HHH acquired Vantage Group from Carlyle and Hellman & Friedman for approximately $2.1 billion. Vantage Group operates insurance, reinsurance and insurance-related securities businesses.
AM Best said the confirmation reflected Vantage’s “very strong” balance sheet strength, adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best’s positive outlook reflects its expectation that, in the near term, the group will continue to expand its presence in the specialty and reinsurance markets and execute its post-acquisition business plan.
The rating agency recognized Vantage Group’s independence under its new ownership group and expected it to benefit from future capital infusions rather than dividend outflows. These assumptions will be closely monitored under the new ownership structure.
A Vantage spokesperson said: “AM Best affirmed Vantage’s A- financial strength rating with a positive outlook and removed the under-review status designated in December 2025. AM Best’s confirmation and $200 million capital injection at closing lead to the same conclusion: Vantage’s operating fundamentals and capital position are consistent with or strengthened from the factors supporting the A- AM Best rating since 2020. Under Howard Hughes’ permanent capital structure, Vantage “Remaining focused on disciplined underwriting and profitable growth.”
