Agam Capital Management

What Agam Capital Management does

Agam Capital Management is a privately held insurance technology and advisory firm founded in 2016 by Avi Katz and Chak Raghunathan, headquartered in Teaneck, New Jersey with offices in Canada, Bermuda, and India. The company builds and operates pALM, a cloud-native analytical platform that integrates asset-liability management (ALM), enterprise risk management (ERM), and dynamic strategic asset allocation (SAA) on a single end-to-end architecture serving global life insurers, retirement-sector insurers, and mutual insurance companies undergoing structural change. LeadAii, an AI-driven component, is layered on top of pALM to support capital optimization, in-force risk transfer, and product co-design, while the wholly-owned Agam ISAC Bermuda subsidiary holds a BMA Class E license enabling the firm to deliver turnkey operational, management, and governance services to Bermuda-domiciled reinsurers.

The business model combines project-based advisory engagements (diligence, hedging, structuring, financial modeling, and dynamic SAA advisory), recurring long-term Master Services Agreements tied to reinsurance platforms, and managed operating-model services for Bermuda Class E entities. Go-to-market is enterprise field sales directly to insurer CEOs, CFOs, CROs, and boards, augmented by a flagship strategic partnership with 1823 Partners that bundles pALM and LeadAii with asset management capabilities and targets the Japanese life and retirement market as an expansion wedge. Revenue pricing is quote-based and non-public, and the company has not disclosed funding, valuation, or revenue figures; distribution and case-study marketing run primarily through the corporate website and direct C-suite engagement.

Name

Agam Capital Management

Legal name

Agam Capital Management, LLC

Website

https://agamcapital.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Agam Capital Management is a private insurance technology and advisory firm that builds the cloud-native pALM platform integrating ALM, ERM and SAA, and operates a BMA-licensed Bermuda reinsurance platform, serving global life insurers, retirement insurers and mutuals.

Ownership category

akta.pro rank

Product category

Insurance Advisory and Asset-Liability Management Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Enterprise Risk Management (ERM) Advisory (BPAHAFAA)

akta.pro secondary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Asset liability management
• Enterprise risk management
• Insurance advisory services
• Reinsurance management
• Strategic asset allocation

Headquarters

HQ city

Teaneck

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Advisory Services: Agam acts as sole financial adviser offering full range of diligence, hedging, structuring and financial modelling services. Services include model design, development, validation, and application supporting capital solutions and investor engagement.
2. Master Services Agreement: Long-term service agreements for ongoing operations, risk management, and governance structure management of reinsurance platforms, particularly for Bermuda-based entities.
3. Operating Model Solutions: Turnkey solution for managing ongoing operations and enterprise risk environment for insurers and reinsurance providers, combining management, governance, and regulatory engagement.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Agam Capital provides technology-enabled financial advisory, managed services, and turnkey reinsurance operating solutions for life, retirement, and mutual insurance companies. Its proprietary pALM platform integrates asset-liability management (ALM), enterprise risk management (ERM), and dynamic strategic asset allocation (SAA) into a single cloud-native system, supporting engagements including demutualization, FIA/VA reinsurance structuring, capital optimization, and balance sheet management. The firm also operates Agam ISAC Bermuda, a BMA-licensed Class E insurer offering operational, management, and governance services to Bermuda-domiciled reinsurers.

Product overview

Agam Capital Management offers a unified platform architecture anchored by pALM, a proprietary cloud-native ALM and ERM system, complemented by the LeadAii AI-driven analytical component. Together, these products deliver end-to-end enterprise-wide risk and capital analytics for life and retirement insurers. The company also provides turnkey reinsurance management solutions through its Agam ISAC Bermuda operational platform, which is fully licensed by the BMA and supports ongoing operations, risk management, and governance for Bermuda-domiciled reinsurers. Advisory services including capital optimization, strategic asset allocation, and transaction structuring are delivered on top of the pALM platform.

Differentiator

Problem solved

Functional benefit

Brands

• pALM: Proprietary cloud-native ALM and ERM platform offering end-to-end enterprise-wide analytical capabilities for life and retirement insurance products
• LeadAii

Products and services

• pALM Platform Cloud-native, proprietary ALM and ERM platform used to analyze, price, and manage life and retirement insurance products. Offers enterprise-wide risk and capital analytics with embedded dynamic strategic asset allocation (SAA) and a three lines of defense governance framework. Delivered to global life, retirement, and mutual insurance companies.
• LeadAii Analytics Module AI-driven analytical platform component used in conjunction with pALM for integrated capital and ALM solutions, supporting balance sheet management and asset-liability analytics for global insurance companies.
• Insurance Advisory Services Sole financial adviser service offering the full range of diligence, hedging, structuring, and financial modelling services to life, retirement, and mutual insurance companies. Supports sponsored demutualization, FIA reinsurance, VA reinsurance, dynamic SAA advisory, and capital optimization engagements.
• Master Services Agreement Engagements Long-term service agreements covering ongoing operations, enterprise risk management, and governance structure management of reinsurance platforms, particularly for Bermuda-based insurers and reinsurers.
• Agam ISAC Bermuda Operating Platform Bermuda-domiciled operating platform offering a comprehensive suite of operational, management, and governance services to Bermuda-based reinsurers. Fully licensed as a Class E insurer by the Bermuda Monetary Authority (BMA) and powered by the pALM analytical platform.
• Operating Model / Turnkey Solutions Turnkey solution for managing the ongoing operations and enterprise risk environment for insurers and reinsurance providers, combining management, governance, and regulatory engagement into a single operating framework.

Quantifiable outcome

• $250B in insurance liabilities analyzed to date
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered flagship and core.

• 1823 PartnersflagshipStrategic or Co-development Partner · 23 April 2026Long-term strategic partnership to serve global insurance companies with an integrated end-to-end value chain solution. The partnership combines Agam Capital's proprietary AI-driven ALM platform (pALM and LeadAii) with 1823 Partners' asset management capabilities, offering product design, balance sheet management, access to long-dated capital, and private asset sourcing for insurers. Initial strategic focus is on the Asian market with emphasis on Japan's life and retirement sector undergoing significant regulatory and structural change.
• Ohio National Financial Services (ONFS)coreStrategic or Co-development PartnerAgam partnered with a pension fund backed investment platform to source, diligence and execute the sponsored demutualization of a large mid-western mutual insurance company. Agam acted as the sole financial adviser offering full range of diligence, hedging, structuring and financial modelling. The engagement included variable annuity rider reinsurance recapture and whole life reserve financing.

Scale indicators3 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Willis Towers Watson (WTW): Major insurance and risk advisory with a substantial life insurance consulting and technology practice spanning ALM, capital optimization, and reinsurance structuring. Directly competes for the same CRO/CFO advisory mandates and operates turnkey platforms in adjacent areas.
• Milliman: Global actuarial and consulting firm that builds and operates ALM, ERM, and asset-allocation analytics for life insurers and pension funds. Highly comparable to Agam on integrated modeling, regulatory frameworks (IFRS 17, USGAAP), and deep insurer relationships across the US, UK, and Asia.
• Oliver Wyman: Management consulting arm of Marsh McLennan focused on financial services, with a strong life insurance and annuities practice covering ALM, balance-sheet strategy, and risk management. Comparable advisory depth and similar target buyer (CFO/CRO) as Agam.

Broad incumbents

• SS&C Technologies: Provider of financial services software including ALM, asset management, and insurance accounting platforms. Overlaps with Agam's pALM for insurers looking to replace or augment legacy point-tools.
• Accenture (Insurance practice): Global consulting and systems integrator running large-scale ALM, finance, and risk transformation programs for insurers. Competes with Agam for board-level mandates by offering end-to-end technology implementation including major platforms.
• Moody's Analytics: Risk analytics and modeling business serving insurers with economic capital, ALM, and scenario tools. Comparable on enterprise risk analytics and regulatory modeling for life and annuity insurers.
• Deloitte (Insurance practice): Global professional services firm with a large insurance advisory practice covering actuarial transformation, IFRS 17, and risk management. Competes for the same strategic mandates at large insurers with broader service breadth and deeper enterprise procurement integrations.
• FIS (Fidelity National Information Services): Large financial technology vendor providing ALM, treasury, and risk software used by life insurers. Competes with Agam at the platform layer for embedded, enterprise-scale ALM tooling.
• PricewaterhouseCoopers (PwC Insurance practice): Big Four insurance advisory with deep actuarial, risk, and capital-management capabilities. Targets the same board-level strategic decisions and often bundles implementation with larger transformation engagements.
• Ernst & Young (EY Insurance practice): Big Four firm offering insurance advisory including actuarial, risk, and finance transformation for life insurers. Multiple Agam senior leaders came from EY, and EY's broader portfolio creates overlap at large enterprise insurer accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Agam Capital Management