OneAdvent, the specialist MGA and broker services platform, has been selected by reinsurance broker, Augment Risk, as a partner in the launch of its UK and European offering.
Officially introduced to the market in July, Augment Risk will have access to over $100m of capital from US-based PE firm, Altamont Capital Partners. Augment’s presence in the US, UK, Bermuda, EU and the Cayman Islands will facilitate their global offering to clients. OneAdvent’s deep understanding of the MGA ecosystem, and the complex (re)insurance structures behind them, make them the ideal partner for the business.
Joe Zuk, Operating Partner at Altamont, commented;
“OneAdvent has the necessary expertise and a deep understanding of the increasingly complex post-Brexit regulatory environment and they will play a vital role in reducing our execution risk and enabling our speed-to-market”.
OneAdvent will provide Augment with a suite of support services including regulatory, compliance and business expertise to help the broker establish a firm presence in the UK and Europe.
Richard Palmer, Head of Risk & Compliance at OneAdvent, said;
“Augment are bringing together a highly experienced and talented team and we are committed to helping them put the necessary structures in place to service their clients globally.”
The new reinsurance broker has in-depth expertise in the intricacies of capital modelling and supports P&C clients with the designing and placement of protections including prospective reinsurance and retrospective capital and legacy structures.
Tim Quayle, Managing Director at OneAdvent added:
“We understand what ambitious businesses like Augment need to succeed and as our respective businesses grow, we look forward to exploring new opportunities together”.
For further information on OneAdvent please contact :
Kirsty Plank, Full Circle Communications
M +44 (0)7799178687
T + 44 (0)20 7265 7887
E [email protected]
Notes to Editors
About OneAdvent
Focused on getting insurance businesses to market – and fast – OneAdvent brings its sector expertise and technical know-how to bear for forward-thinking insurance businesses around the world. Collaborating with established industry players and entrepreneurial start-ups alike, we help our clients turn innovative ideas into genuine success stories.
We’re committed to challenging the status quo in a traditional, highly-regulated environment. With continued investment in our business and an empowering, hands-off approach, we’re ready to take advantage of the changing face of insurance. Bringing agility, flexibility and creativity to the market, OneAdvent is the industry’s innovation accelerator.
About Augment
Augment is a risk capital and reinsurance solutions broker, focused on designing and placing bespoke protections for a variety of clients. With a wide range of strategies and solutions, Augment creates growth and equity value through tailored transactions to deliver long term capital and partnerships. Augment’s expertise extends beyond (re)insurance, allowing the company to sustainably disrupt the value chain and build creative, value-accretive solutions for individual client needs. For more information, please visit www.augmentrisk.com.
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