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U.S. RE to Enter Brazil Market
| Source: U.S. RE Companies, Inc.
PEARL RIVER, NY--(Marketwire - February 17, 2009) - U.S. RE, the international financial
services and reinsurance brokerage firm, announced plans to form a
reinsurance broker subsidiary in Sao Paulo to serve the insurance industry
in Brazil. The announcement was made by Tal P. Piccione, U.S. RE Chairman
and CEO.
The new company, U.S. RE do Brasil Corretora de Resseguros, Ltda. (U.S. RE
Brazil Reinsurance Broker, Ltd., LLC) will offer all categories of
reinsurance, including proportional, facultative, excess-of-loss, and
catastrophe protection to insurers in Brazil.
"We're proud to bring new capacity and global expertise in reinsurance
placement to Brazil," Piccione declared. Massimo Dominici, a prominent
insurance broker in Brazil, will represent U.S. RE in the Sao Paulo office.
Legislation recently was enacted to permit foreign reinsurance brokers to
do business in Brazil. "By combining U.S. RE's international experience and
access to worldwide reinsurance markets with the Dominici Group's strong
presence in Brazil, we will provide innovative, competitive products to the
Brazilian insurance industry," Piccione stated.
Riccardo Nicolini, U.S. RE Senior Vice President and head of U.S. RE's
international activities, said, "We're excited about the opportunity to
bring our international experience and technological resources to clients
in Brazil." He pointed out that in addition to a highly professional team
of reinsurance brokers with years of global experience, U.S. RE provides
clients with actuarial services, catastrophe modeling, and the latest
financial modeling capability.
The U.S. RE Group is an international financial services firm with
interests in reinsurance brokerage; program business; investment banking;
risk retention group, captive, claims, and risk management. The company
headquarters is in Pearl River, New York, with offices in Atlanta;
Hamilton, Bermuda; Basel, Switzerland; Copenhagen, Denmark; Istanbul,
Turkey; and Mauritius.