Agam Capital, a global provider of insurance-related asset and liability analysis, has formed a long-term strategic partnership with 1823 Partners (US) LLC, an asset management firm focused on insurance-led investment strategies to support global insurance companies.
Agam Capital and 1823 Partners said the collaboration aims to provide permanent capital to insurers through reinsurance structures, particularly for non-U.S. markets, including solutions for efficient risk transfer, capital optimization and co-development of new products and flow reinsurance arrangements.
Agam Capital and 1823 Partners said the partnership aims to provide policyholders with a structured approach to guarantees while expanding capabilities in sourcing, structuring and monitoring assets.
The companies said their combined model is designed to support insurance partners in continuing to generate returns while maintaining resilience for policyholders and other stakeholders. Agam Capital and 1823 Partners said the partnership aligns capital provision, advanced analytics and operational infrastructure within a unified framework.
Agam Capital and 1823 Partners said the partnership brings together complementary capabilities. 1823 Partners contributes asset management expertise across multiple sectors, serving long-term institutional investors such as insurance companies, pension plans and family offices. Agam Capital provides insurance structuring expertise powered by its proprietary balance sheet management technology. Agam Capital and 1823 Partners position the combined offering as an end-to-end solution covering product design, asset liability management and long-term capital acquisition.
Anant Bhalla, co-founder and CEO of 1823 Partners, commented: “The insurance industry value chain has evolved significantly over the past 20 years. Years have been fragmented, leading to fragmentation and shifts in the value economy between liability allocation, balance sheet risk tolerance providers, and asset sourcing capability providers. Our unique end-to-end solution provides insurers with a robust distribution channel and access to the full suite of capabilities they need to compete – product design, world-class ALM, access to long-term capital and assets. “Resiliency, private asset sourcing, construction and ongoing monitoring are all supported by the ALM 3.0 infrastructure solutions they need to thrive in a complex and ever-changing environment.” “
Agam Capital co-founders Chak Raghunathan and Avi Katz added: “The fundamental challenge with insurance ALM has always been that the models used were designed for a less liquid, simpler world. We have now designed and built a proprietary, AI-driven ALM from first principles platform to handle the complex realities of dynamic, volatile global capital markets – integrated across the enterprise in real time, combined with AI agents capable of dynamically pricing and managing risk. This partnership is how we leverage our combined capabilities to create benefits for global insurance companies.”
Agam Capital sees its pALM platform as a core component underpinning this collaboration. Agam Capital said pALM integrates actuarial modeling, asset management, accounting, risk and finance functions into a unified system, enabling a consistent data framework across the insurance company’s operations. Agam Capital said the platform is designed to support enterprise-wide decision-making and coordination between assets and liabilities.
Building on this foundation, Agam Capital has also developed LeadAii, which the company describes as a next-generation AI-powered asset liability management platform. According to Agam Capital, LeadAii uses autonomous agents that run in real time across key ALM functions, including liability modeling, dynamic asset allocation, and scenario analysis of interest rate, credit, and longevity risks. Agam Capital said LeadAii is based on a proprietary large-scale language model derived from open source architecture and is tailored for life and retirement applications.
Agam Capital further noted that LeadAii operates within a closed framework with no external data connections, a move the company said is intended to address data security concerns and mitigate risks associated with general artificial intelligence tools in regulated financial environments. Agam Capital and 1823 Partners said that pALM and LeadAii together form the technology infrastructure that supports the partners’ integrated operating model.
Agam Capital and 1823 Partners said their initial strategic focus will be on Asia, specifically the Japanese insurance market.
Agam Capital and 1823 Partners said regulatory and structural developments in Japan’s life and retirement industry are creating demand for integrated solutions that combine capital access, technology and structural expertise.
In addition to Japan, Agam Capital and 1823 Partners said they will selectively pursue opportunities in other markets where their combined capabilities can provide solutions that traditional approaches often cannot.