Vantage enters the US major property insurance sector

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

Vantage said the major real estate business, which will be offered on a non-admitted basis, will be led by New York-based David Burton Perry, who joined the company in January from Ibex Underwriters Inc., where he was co-founder and CEO used to be. Before Ibex, he worked at Swiss Re Ltd for three years. and five years at Zurich Insurance Co. Ltd.

Mr. Burton Perry reports to Nicole Perrault, head of real estate.

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