Steve McElhiney To Lead Augment Risk's Captive and Alternative Risk Transfer Solutions

Augment Risk has announced the launch of a new division dedicated to captive and alternative risk transfer (ART) solutions, appointing Steve McElhiney to lead the initiative.

As reported by Reinsurance News, Mr. McElhiney will concentrate on expanding Augment Risk's presence in market segments where traditional solutions may not fully meet client needs. This strategy is designed to foster growth in underserved areas while contributing to the company's broader expansion across North America.

Mr. McElhiney brings decades of expertise to his new role, including a distinguished tenure at Artex Risk Solutions. His leadership has been instrumental in shaping innovative strategies within the captive and ART space. Reinsurance News highlighted that Mr. McElhiney's insights and leadership are expected to play a key role in the success of Augment Risk's new offering.

The launch of this division aligns with market trends, where businesses increasingly seek alternatives to traditional insurance solutions. Augment Risk's approach aims to deliver bespoke solutions tailored to specific client needs, strengthening its reputation as a forward-thinking provider in the industry.

Mr. McElhiney emphasized the potential for Augment Risk to drive meaningful impact in the market. Reinsurance News quoted him as saying, "I was impressed by Augment Risk's commitment to partnership and its high-performance culture. I look forward to bringing innovative strategies to life and developing the newly launched captive and [ART] offering. As mutual insurers face reinsurance capacity and capital constraints, our work will help broaden the scope of available solutions and facilitate access to the necessary tools for sustainable growth."

Mr. McElhiney is pictured above. (Courtesy photo.)