Augment Risk has introduced Andrew Matson as its Chief Executive Officer, with a focus on expanding the firm’s already considerable progress, having successfully bound $1 billion of premium within its inaugural year.
Matson brings his expertise from McGill and Partners, where he spent over three years, initially as Head of Portfolio Solutions and later as Head of Structured Solutions, before joining Augment Risk.
With close to 15 years at Aon, where he last served as CEO of Global MGA & Portfolio Solutions, and earlier experience at Guy Carpenter as a Reinsurance Broker for over four years, Matson enters Augment Risk during a time when the reinsurance industry faces challenges due to rising interest rates, increased inflationary loss costs, and mounting natural catastrophes.
Augment Risk sees Matson’s extensive expertise and grasp of the challenges encountered by reinsurers’ businesses as integral to implementing the vision of its innovative broker model.
Sam Gaynor, Managing Director for Altamont Capital Partners, which provided $100 million in funding to Augment Risk earlier this year, expressed, ”Andrew has the experience and conviction to lead Augment Risk’s next chapter of growth, and we are pleased to welcome him as CEO.”
Matson shared his excitement, stating, “Augment Risk was founded to address a fundamental structural problem in the insurance and reinsurance markets. We champion the need for a shift from outdated practices of ‘products sold at prices’ to better cater to our clients’ needs. I am thrilled to work with some of the most exceptional talent in the industry. We believe we can transform reinsurance broking for the better by focusing on our client’s entire businesses, creating partnerships with reinsurers, and enhancing equity value by better-managing capital, reducing earnings volatility, and expanding our clients’ margins. Our approach has never been done at this scale.”
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