Vantage Promotes Granda to Head of Political Risk and Credit; Miller taps Rance from Price Forbes Re to lead reinsurance strategy and innovation

This edition of International People Moves details meetings at Bermuda-based reinsurer Vantage Group Holdings and insurance broker Miller.

A summary of these new hires follows here.

Vantage promotes Granda to head of political risk and credit

Vantage Group Holdings Ltd., the Bermuda re/insurer, announced the promotion Lila Granda as Head of Political and Credit Risk (RPC).

Effective immediately, she joins the insurance group’s leadership team and reports to Alex Blancoexecutive director of insurance.

As Head of PRC, Granda will assume leadership responsibilities for that team and oversee the group’s PRC portfolio, ensuring discipline, diversification and consistent application of PRC’s underwriting strategy and risk appetite. She is also senior risk manager of Political and Credit Risk.

Granda joined Vantage in 2021 as Political Risk & Credit — senior risk manager. She has over 20 years of underwriting and risk management experience in the credit and political risk insurance industries. She has held senior positions at Zurich and US Overseas Private Investment Corp. (OPIC), now known as the US International Development Finance Corp. (DFC).

At Zurich, Granda served as Technical Director of Underwriting for Credit and Political Risk, where he played a crucial role in developing risk appetite and underwriting strategy, portfolio monitoring and analysis, and regional office expansion. At OPIC, Granda held several roles, including International Economist; insurance officer for Eastern Europe and the former Soviet Union; insurance officer for Latin America and the Caribbean and regional manager for Latin America and the Caribbean. In early 2024, she has been nominated to become the chair of the medium/long term export credit group at Berne Union, the leading global association of the export credit and investment insurance industry.

“We are pleased to announce the promotion of Lila to Head of Political and Credit Risk,” said Blanco. “She has been a valuable member of the team and her extensive experience and deep understanding of the global political landscape has been critical to our success. We are confident that she will lead our team to new heights, continue to help our clients navigate today’s dynamic risk environment, and further develop our drive toward sustained profitability.”

Established in late 2020, Vantage’s operating subsidiaries are Vantage Risk Ltd., Vantage Risk Assurance Co. and Vantage Risk Specialty Insurance Co. – all rated “A-” (Excellent) by AM Best (as of February 2024).

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Miller taps Rance from Price Forbes Re to lead reinsurance strategy and innovation

MillerLondon-based independent specialist reinsurance broker has announced two appointments to its growing reinsurance practice, with Steven Rance joining as Head of Reinsurance Strategy and Innovation and Charlotte Lowe joining as an account administrator.

Rance joins from Price Forbes Re, where he led its specialist division (Inver Re), bringing over 35 years of experience in the global financial services arena. He spent six years as managing partner at Gallagher Re, which he joined in 2017 (then Capsicum Re) to establish and lead the global mortgage reinsurance division. With particular specializations in credit risk services such as portfolio structuring, underwriting and regulatory capital reduction (SRT) generation, Rance has held a number of leadership positions in mortgage and credit risk underwriting, brokerage and consulting – working with banking services, lending, house builders. and government customers in the US, Europe, Asia, Africa and South America.

In 2012, Rance developed and implemented the UK’s first government-backed mortgage insurance scheme, called NewBuy, reaching over 80% of UK mortgage lenders and over 100 builders. Rance’s unique experience and relationships resulting from NewBuy led directly to the creation and delivery of Deposit Unlock, a national mortgage insurance scheme for over 90 UK builders.

In his role at Miller, Rance reports to Shaun Sinniahhead of Miller’s reinsurance and capital, and will work with the global team to support the expansion and shape the strategy of the broker’s rapidly growing reinsurance offering.

Rance is the latest in a series of senior reinsurance appointments at Miller in London, Bermuda and APAC over the past two years, including the creation of a dedicated APAC treaty reinsurance team.

Joining Rance on Miller’s reinsurance team is Charlotte Lowewho also joins from Price Forbes Re where he was a broker. With specialist experience in housebuilders and captives, Lowe previously worked for Gallagher Re.

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