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Vantage Partnership Capital generated $23m fee income in Q2 2026
The Bermuda-based re/insurer said AdVantage deployed $1.5 billion of third-party investor capital in 2024 and 2025, and expects $1.6 billion of capital to deploy for the 2026 calendar year.
Artemis reports that Vantage Risk’s Vantage Partnership Capital, which operates via the AdVantage platform, generated $23 million of fee income in the second quarter of 2026 from its insurance-linked securities style partnerships with third-party investors.
The platform runs its underwriting through a Bermuda collateralized reinsurer, AdVantage Reinsurance Bermuda Ltd., along with the licensed insurance agent AdVantage Capital Advisors Ltd. and the Class 4 re/insurer Vantage Risk Ltd., which support the strategies offered to institutional investors.
Artemis notes that the AdVantage structure traces back to Vantage Risk’s entry into third-party reinsurance capital management in early 2021, when it established AdVantage Retro I Ltd., later transitioning to AdVantage Reinsurance Bermuda Ltd. as the main risk-bearing structure for quota share and other arrangements supported by segregated accounts.
Howard Hughes Holdings, which is linked to Bill Ackman, disclosed the fee income, Artemis adds, and Ackman said the business has about $1.5 billion of third-party investor capital deployed through reinsurance strategies in 2024 and 2025, with $1.6 billion of capital to deploy for the 2026 calendar year.