Reinsurance and risk capital solutions broker Augment Risk has announced the appointment of Steve McElhiney (pictured above) as partner to head its newly established captive and alternative risk transfer solutions offering.
Based in Dallas, McElhiney will focus on expanding Augment Risk's presence in North America by addressing gaps in traditional market solutions and delivering tailored strategies for under-penetrated segments.
Augment Risk said that McElhiney will lead the firm’s efforts to develop legacy solutions in the captive insurance space, including repurposing micro captives and exploring roll-up initiatives with capital providers. He will also work to extend captive capabilities to managing general agents (MGAs), positioning Augment Risk to provide bespoke solutions to a broad client base.
With a career spanning senior roles in reinsurance underwriting and corporate finance at global carriers, reinsurers, intermediaries, and captives, McElhiney brings extensive expertise to his new role.
Most recently, he served as senior vice president and global director of reinsurance for Artex Risk Solutions. At Augment Risk, he will focus on creating tailored captive solutions, including single-parent captives and segregated cells.
Andrew Matson, CEO of Augment Risk, highlighted McElhiney’s broad experience in the reinsurance and corporate finance sectors.
“His well-rounded background in corporate finance and reinsurance makes him an invaluable addition to the Augment Risk team. His expertise in the captive market will play a key role in crafting innovative, tailored solutions that support Augment Risk’s overall strategy,” Matson said.
Since its launch in 2023, Augment Risk said that it has grown to employ more than 45 professionals globally, leveraging a “work from anywhere” model that facilitates seamless collaboration across regions.
The newly introduced captive and alternative risk transfer offering integrates into the firm’s overarching strategy to deliver capital and risk solutions that enhance enterprise value.
McElhiney remarked that he was drawn to Augment Risk’s partnership-driven approach and performance-focused culture.
“As mutual insurers face reinsurance capacity and capital constraints, our work will help broaden the scope of available solutions and facilitate access to the necessary tools for sustainable growth,” McElhiney said.
In addition to his professional accomplishments, McElhiney remains actively engaged with the insurance industry. He serves on advisory boards for risk management and global supply chain tracks at the University of Southern California and has held leadership roles with organisations such as the Captive Insurance Companies Association (CICA) and the Vermont Captive Insurance Association (VCIA).
Augment Risk’s focus on innovation and collaboration continues to shape its growth trajectory as it expands its offerings to meet evolving market demands.
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