Augment Risk Expands Latin American Parametric Offering with Strategic Hire

Augment Risk has hired Alejandro Solorzano as associate partner, Latin America parametric, according to a report by Artemis. Based in Miami, Solorzano will spearhead the company's efforts to expand parametric risk transfer solutions in Latin America. This move furthers Augment Risk's growth, following the launch of its dedicated parametric division in October 2023.

Mr. Solorzano brings more than 19 years of experience in reinsurance and parametric insurance, including expertise in product development, data analytics, and innovative risk transfer. As Artemis notes, his previous roles include head of risk transfer and Innovation at XS Global, where he developed sensor-triggered parametric reinsurance solutions, and leadership positions at Marsh, where he scaled its captive insurance and parametric practice.

Kurt Cripps, leader of Augment Risk's global parametric specialty division, commented on the hire in the Artemis report, stating, "Alejandro's entrepreneurial spirit, unrivalled knowledge of the region, and proven track record in the parametric space make him the ideal addition to our team. As we continue to deliver our ambitious growth plans, his expertise, enthusiasm and network will prove invaluable."

Mr. Solorzano added, "Latin America faces severe challenges related to natural disasters and climate change, in addition to recurring financial constraints. Parametric policies are particularly well suited to address some of these issues and will be key in improving resilience in the near future."