Augment, a First-of-its-Kind Bespoke Reinsurance Broker, Launches to Revolutionize Insurance Risk Arbitrage

Firm Backed with up to $100M from Altamont Capital Partners

MIAMI & LONDON--(BUSINESS WIRE)--
Augment, an innovative reinsurance broker offering bespoke solutions to its partners, today announced its official launch with access of up to $100 million in funding from Altamont Capital Partners (Altamont).

Over the last decade, the global reinsurance market has been buffeted by significant shifts — among them the emergence of ever more complex risks, macroeconomic volatility, and an evolving regulatory landscape. A one-size-fits-all approach is no longer sufficient. With global reach and scale, Augment creates solutions not only across geographies but also across product lines, leveraging multiple strategies designed to work in lockstep.

“Augment was founded because we believed that by taking a holistic approach to our partners’ needs — broking the entire client, rather than any single class of business — we could unlock unprecedented opportunities for growth,” said Alex Kazanjian, managing director, Augment. “Focusing on establishing long term relationships with our clients, rather than on their product, enables us to deliver the creative approaches today’s market needs.”

Augment helps partners manage volatility through strategic, structurally efficient, multi class and/or multi geography transactions. It is strategically positioned to serve a wide range of clients across the globe. And while reinsurance is at the foundation of its approach, Augment offers a range of strategies. It designs and places protections — including prospective reinsurance and retrospective capital and legacy structures — for its property and casualty clients with a focus on maximizing enterprise value.

“Augment’s strategy is a perfect match for Altamont’s insurance investing focus,” added Sam Gaynor, Managing Director, Altamont. “They’ve identified a clear market need to help their P&C customers address the most complex risk capital challenges in the most efficient manner, and we’re excited to lend platform-formation capabilities to form a brokerage firm perfectly suited to today’s market dynamics.”

Keoni Schwartz, Managing Director at Altamont, further added: “Augment is the latest example of de novo platform formation in Financial Services, something we’ve successfully done five times previously at Altamont. With our over $4.3 billion of capital under management, we look forward to bringing substantial resources to bear to aid in Augment’s success.”

“We’re thrilled to back Augment, whose strategic solutions address the most complex business challenges faced by its P&C industry partners,” said Joe Zuk, Operating Partner, Altamont Capital Partners, a private equity firm with over $4.3 billion under management.

For more information about Augment, visit the company’s website at www.augmentrisk.com.

About Augment

Augment is a risk capital and reinsurance solutions broker, focused on designing and placing bespoke protections for a variety of clients. With a wide range of strategies and solutions, Augment creates growth and equity value through tailored transactions to deliver long term capital and partnerships. Augment’s expertise extends beyond (re)insurance, allowing the company to sustainably disrupt the value chain and build creative, value-accretive solutions for individual client needs. For more information, please visit www.augmentrisk.com.

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Chelsea Allison
[email protected]

CMAND for Augment

Source: Augment