The infusion of capital underscores the strategic importance and potential of Augment’s reinsurance approach in a volatile macroeconomic landscape, with evolving regulations and complex risks. Augment firmly believes that a one-size-fits-all solution is insufficient in this challenging environment.
Augment’s primary goal is to create customised solutions that not only cater to different geographical regions but also address various product lines. The company employs a range of strategies meticulously designed to effectively manage the intricate risk landscape of today.
With the newfound funding, Augment aims to expand its services to partners worldwide. Going beyond traditional reinsurance, Augment adopts a client-centric approach, providing a diverse set of strategic tools that include prospective reinsurance, retrospective capital, and legacy structures. These offerings are intended to enhance enterprise value and manage volatility, reflecting Augment’s commitment to delivering comprehensive solutions to its clients.
In a statement, Alex Kazanjian, the managing director of Augment, spoke of the company’s belief in holistic partnerships that prioritise long-term relationships and creative approaches tailored to the unique needs of each client. By moving away from a product-centric focus, Augment aims to unlock unprecedented growth opportunities and meet the demands of today’s market.
While reinsurance remains central to Augment’s approach, the company adapts its strategies to meet individual client needs and navigate complex challenges. Augment’s long-term vision is to foster growth through innovative and creative approaches.
Sam Gaynor, Altamont’s managing director, commended Augment for identifying a critical market need in assisting property and casualty customers in overcoming complex risk capital challenges. Gaynor expressed excitement about Altamont’s ability to support Augment’s platform-formation capabilities in building a brokerage firm that aligns well with the current dynamics of the market.
With over $4.3 billion of capital under management, Altamont is enthusiastic about supporting Augment’s strategic approach to addressing complex business challenges.
Joe Zuk, Operating Partner at Altamont Capital Partners, echoed this sentiment, expressing Altamont’s delight in backing Augment’s endeavours.
