Former Arch Execs Grandisson, Gansberg Named Vantage Chair, CEO; Best’s Comments
Howard Hughes Holdings Inc., the new parent company of Vantage Group Holdings Ltd., announced that Marc Grandisson has been named executive chairman of Vantage, effective immediately.
At the same time, David Gansberg was appointed as CEO designate – a role he will assume once his non-competition obligations are no longer in effect by June 2027.
Grandisson and Gansberg bring decades of specialty insurance leadership to Vantage, having spent much of their careers together at Arch Capital Group, which they helped build into one of the world’s most respected and profitable specialty insurers and reinsurers, according to Howard Hughes in a statement issued on July 16.
Grandisson began his career working with insurance executives, including Ajit Jain from Berkshire Hathaway and Paul Ingrey at F&G Re, before joining Arch’s founding team in 2001. He served as CEO of Arch from 2018 until his retirement in 2024, during which Arch generated a total shareholder return of 298%, or 23.2% per annum, driven by disciplined underwriting and skilled cycle management, Howard Hughes said.
Gansberg, who also joined Arch in 2001, led the company’s Global Mortgage Group as CEO from 2019 to 2024 and built it into a market leader, before being named president of Arch Capital Group with accountability for its Global Insurance Group.
Howard Hughes finalized its $2.1 billion acquisition of Vantage, the Bermuda-based specialty re/insurer, in June.
Greg Hendrick, who has served as CEO of Vantage since co-founding the company in 2020, will continue to lead Vantage as CEO until Gansberg assumes the role next year – in order to ensure a seamless transition. Grandisson will work alongside Hendrick and the Vantage leadership team during this period.
In response to the leadership appointments, AM Best commented on July 17 that the “A-” (Excellent) credit ratings of Vantage and its affiliates would remain unchanged following the announced leadership transition. The ratings agency said the outlooks of these ratings remain positive.
“The appointments offer additional experienced industry leadership to the Vantage Group. While the transition represents a notable governance change following Howard Hughes Holdings Inc.’s acquisition of Vantage, the group’s balance sheet strength, operating performance, business profile, and enterprise risk management assessments remain unchanged,” said AM Best.
“In Marc and David, we have two of the most accomplished leaders in the industry to guide Vantage into its next chapter,” according to Bill Ackman, executive chairman of Howard Hughes. “Greg has built the foundations for an exceptional specialty insurance and reinsurance operation, and we are grateful for his leadership.”
“When I joined the Howard Hughes board, I saw a company at an exciting inflection point, and my conviction in the opportunity at Vantage has only grown since,” said Grandisson. “Vantage is an exceptional diversified insurance platform which offers tremendous opportunity, and I am honored to join the company as executive chairman.”
“Building Vantage these past six years has been the privilege of my career,” said Greg Hendrick, CEO of Vantage. “We set out to build a specialty reinsurer that sees risk differently — one defined by talent, technology, and a genuine curiosity about the world. I am proud of every person who made it possible.”
With Vantage’s recent sale to Howard Hughes, Hendrick said, the company is “now closing our founding chapter and opening an extremely promising long-term future for the company.”