NEW YORK, NY--(Marketwire - April 29, 2008) - Ultimate Risk Solutions, LLC, a leading risk
and capital modeling software company serving the global insurance and
reinsurance industries, has named Tal P. Piccione its Non-Executive
Chairman of the Board, Alex Bushel, Chief Executive and CEO announced.
Piccione is Chairman/CEO of U.S. RE Companies, Inc., an international
financial services firm.
Ultimate Risk Solutions (URS) is widely known for its Dynamic Financial
Analysis software that enables insurers and reinsurers to analyze portfolio
risk, reinsurance/retrocession programs, capital requirements/allocation,
income, surplus, reserves, cash flows, and asset-liability matching along
with other measures of corporate performance.
"We're pleased to have Tal Piccione join our Board as Non-Executive
Chairman," Bushel said. "He brings a wealth of experience and deep
knowledge of what insurers and reinsurers need to succeed in today's
challenging marketplace."
"I'm excited to take on this role at URS because Alex Bushel and his
associates offer the most sophisticated modeling software in the current
age of enterprise risk management," Piccione commented. "Business leaders
in the insurance industry and the Fortune 500 recognize today that they
must look beyond traditional risk management techniques to quantify and
analyze the totality of potential risk scenarios affecting their future.
URS has developed a range of software products that make this process
quick, efficient, and easy to use. Further, I'm delighted that U.S. RE is
now utilizing URS technology for work undertaken on behalf of our clients
the world over."
URS maintains offices in New York, London, and the Ukraine. Its software
products are being used by major insurance and reinsurance companies in the
U.S., U.K., and Continental Europe. "We will be pleased to provide URS
Dynamic Financial Analysis products to U.S. RE clients through our
subsidiary, U.S. RE Analytics, LLC," Piccione said. "I look forward to
working with URS to deploy the Company's state-of the-art technology not
only to the insurance/reinsurance industries, but to regulators, stock
analysts, the investment banking community, and the capital markets."
The URS Risk Explorer™ software combines analytical power and
flexibility with ease of use, ease of learning and ease of integration with
other IT systems within re/insurance companies. It is the key product from
the URS family of financial modeling solutions that also includes:
-- UltiFit™ - a statistical distribution fitting tool that helps
parameterize the models used in risk management applications
-- Res-Solver™ - an advanced deterministic and stochastic loss reserve
estimation and modeling framework
-- URS Translator™ for Excel - a spreadsheet compiler that converts
Excel models into fast-running executable programs, and
-- URS Real World - an upcoming global economic model that simulates the
behavior of main economic variables in multiple economies.
Contact Information: Contact information
Media:
Mechlin Moore
MDM Communications
+1-239-777-1595
Marketing:
Anya Kutsina
URS, Inc.
+1-917-750-2141