Augment Risk, the risk capital and reinsurance solutions broking firm, has announced the hiring of Alejandro Solorzano from XS Global, who joins the company to help it expand its parametric risk transfer offering for the Latin America region.Augment Risk , since when the company has been building out this specialist broking practice.Alejandro Solorzano has now joined the company as Associate Partner, LATAM Parametric and will be based in Miami.He is expected to play a central role in developing Augment Risk’s parametric re/insurance offering in Latin America and supporting growth in that region by identifying new opportunities.

Solorzano has more than 19 years of experience in reinsurance and parametric insurance and has worked on product development, distribution, marketing, data and analytics of these risk transfer arrangements.With a number of senior positions in his career, most recently he was the head of risk transfer and innovation at broker XS Global.In that role.

Solarzano worked on innovative parametric reinsurance arrangements including .He also co-founded Berrysafe, a digital wholesaler platform designed to connect customers with the right insurance products or services provided by carriers.Before that, Solorzano worked at broker Marsh for over 10 years, holding the position of Managing Director and Head of Sales.

In that role, he was helped build the Analytics and Parametric team and scaled a Captive practice.Kurt Cripps, leader of the Augment Global Parametric Specialty division, commented on the hire, “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.”.All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.

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