Risk capital and reinsurance broker Augment has announced the launch of its operations with $100m in funding from private equity firm Altamont Capital Partners.
Headquartered in London, the newly launched entity says it develops solutions that cut across product lines and geographic boundaries.
Augment believes that due to the complex risks, macroeconomic volatility, and a changing regulatory landscape, a one-size-fits-all strategy is not enough.
Augment managing director Alex Kazanjian said: “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.
“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.”
The company claims that its strategic position allows it to cater to a wide range of clients across the world.
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With reinsurance at the core of its strategy, Augment offers a variety of approaches to managing risks.
For its property and casualty clients, it builds and implements protection with a focus on maximising enterprise value, including prospective reinsurance, retrospective capital, and legacy structures.
Altamont managing director Sam Gaynor said: “Augment’s strategy is a perfect match for Altamont’s insurance investing focus.
“They have 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.”