Reinsurance and capital solutions broker Augment Risk has appointed Crystal Maragh to its Global Parametric Specialty team, effective immediately, as the firm deepens its bench in a parametric segment drawing growing interest from clients and capital providers.
Based in Miami, Maragh will support growth and execution across parametric transactions, bringing experience in actuarial science, parametric product development, and risk analytics to the role.
She joins from NormanMax Insurance Holdings, where she served as vice president of pricing. In that role, she contributed to the launch of syndicate and MGA operations, helped secure investor capital, and worked on parametric solutions.
Earlier in her career, Maragh focused on actuarial and parametric innovation, developing new products and structuring capacity arrangements with reinsurers.
"We are delighted to welcome Crystal to the Augment Risk team," said Kurt Cripps, partner and global head of parametric specialty at Augment Risk.
"As our parametric practice continues to go from strength to strength, her deep technical and operational expertise will be instrumental in expanding our capabilities and delivering bespoke solutions for clients globally," he added.
The Maragh appointment forms part of a broader build-out at Augment Risk, which has also added Lucy Carter as MGA partner following an earlier MGA-focused partner hire.
"The reinsurance broker has grown to roughly $1.6 billion in placed premium with just under 50 staff," according to the firm's latest disclosures. It operates across the US, UK, Bermuda, the EU, and the Cayman Islands, with dedicated divisions for parametric specialty products and insurance-linked securities.
The hire also reflects continued investment by reinsurance brokers in parametric coverage, a segment that pays out based on predefined triggers rather than indemnity-based loss assessments.
Industry observers have described parametric as a maturing solution reshaping insurance product design, driven by climate volatility, better data, and demand for fast-payout protection.
Market research cited by Marsh estimates the global parametric insurance market will reach $34.4 billion by 2033, underscoring the segment's runway as more brokers and carriers compete for share.
