New LATAM parametric partner at Augment Risk
Reinsurance and risk capital solutions broker Augment Risk has appointed Alejandro Solorzano (pictured) as associate partner - LATAM parametric.
Based in Miami, Solorzano will play a central role in developing the parametric (re)insurance offering in Latin America and will support Augment Risk’s growth in the region by identifying opportunities across business specialties. The firm focuses on their clients’ entire business model, developing solutions that drive business objectives, increase operational efficiency and enhance enterprise value. Augment Risk’s global parametric specialty team designs bespoke parametric solutions, avoiding the basis risk often associated with off-the-shelf indices and helping clients maximise liquidity benefits.
The company said that Solorzano brings over 19 years of experience in reinsurance and parametric insurance with expertise in product development, distribution, marketing, data and analytics. He has held a variety of senior positions in the sector, most recently as head of risk transfer & innovation at XS Global. His belief in the potential for a faster and more efficient insurance industry led him to co-found Berrysafe, a digital wholesaler platform that connects customers and the most suitable insurance products or service provided by the carriers.
Prior to this, Solorzano spent over 10 years at Marsh, where he held the position of managing director and head of sales. In this role, he was instrumental in building the analytics and parametric team, as well as scaling and growing the captive practice. His leadership and strategic initiatives contributed significantly to the advancement and success of these critical areas within the organisation, Augment Risk said.
Cripps said: “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. Augment Risk is now an established business of scale, and we are very excited for 2025 which promises to bring enhanced solutions and significant benefits to our clients.”
Solorzano added: “Augment Risk is transforming the way we think about parametric reinsurance. They are not just designing and managing bespoke parametric policies from inception to settlement but also thinking of them as a capital management tool for clients. I’m look forward to joining this talented and visionary team. 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.”
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