Bermudian Brian Steinhoff has been appointed as senior vice-president, property catastrophe, of Vantage Risk Ltd.

Mr Steinhoff, who is based on the island, will report to Peta White, the president of Vantage Risk.

In his new role, the company said, Mr Steinhoff will lead Vantage Risk's property catastrophe underwriting team and lead the property catastrophe underwriting efforts on behalf of the company's partnership capital platform, AdVantage Retro I Ltd.

He and his team will be responsible for producing and underwriting portfolios within target investment parameters.

Under Mr Steinhoff's direction, Vantage Risk said, the group's expertise, analytics and reporting will also be extended to investors interested in opportunities in the property catastrophe market.

In addition, Brent Poliquin, reinsurance data and analytics lead, will expand his responsibilities to lead strategic operational planning and investor reporting activities related to AdVantage.

Last December, Vantage Risk, through AdVantage, raised approximately $1 billion in additional capital for deployment through its partnership capital model. This capital was net-new to the industry and dedicated to providing coverage for insurance companies' natural catastrophe exposures.

Chris McKeown, Vantage's chief executive of reinsurance, ILS and innovation, said: "The $1 billion capital raise sets us on sound footing to accelerate AdVantage's growth.

“With the development of our partnership capital model gaining steam, Brian's underwriting expertise and extensive market contacts will be invaluable to investors seeking non-correlating returns in the property catastrophe reinsurance market.

“We're happy to have him take on this important role and build on Vantage's early success in managing partnership capital."

Mr Steinhoff said: "I'm excited to support Chris and the team developing and executing our AdVantage strategy. We're committed to providing best-in-class service to cedents and third-party investors, while bringing creative and meaningful capacity to the market."