Alejandro Solorzano joins Augment Risk to expand LatAm parametric offering

Risk capital and broking solutions firm, Augment Risk, has hired Alejandro Solorzano from XS Global, who joins the organisation to help it expand its parametric risk transfer offering across the Latin America region.

Solorzano has joined the company as Associate Partner, LATAM Parametric, where he will be based in Miami.

From what we understand, Solorzano will play a central role in developing Augment Risk’s parametric re/insurance offering in Latin America and supporting growth in that region by identifying opportunities across business specialties.

It’s worth highlighting that 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 maximize liquidity benefits.

Overall, Solorzano brings over 19 years of experience in reinsurance and parametric insurance towards his new role. He has also previously worked on product development, distribution, marketing, data and analytics of these risk transfer arrangements too.

Throughout his career, Solorzano has held a number of senior positions across the industry, having most recently served as head of risk transfer & innovation at broker XS Global.

In addition, he also co-founded Berrysafe, a digital wholesaler platform designed to connect customers with the most suitable insurance products or services provided by carriers.

Before that, Solorzano spent over 10 years working at broker Marsh, where he held the position of Managing Director and Head of Sales.

In that role, he helped build the Analytics and Parametric team, as well as scaling and growing the Captive practice.

Kurt Cripps, leader of Augment Risk’s parametric division, commented on the appointment: “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, said: “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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