SOURCE: RG America, Inc.

May 02, 2006 08:00 ET

RG America Subsidiary Retained by Midwestern Insurance Carrier

The Roofing Group to Conduct Pre-Loss Roof Inspections for Commercial and Multi-Family Properties in Texas

DALLAS, TX -- (MARKET WIRE) -- May 2, 2006 -- (OTC BB: RGMI) -- RG America, Inc. (RGA), a Dallas-based Insurance Restoration Company specializing in recovery, remediation, roofing and re-construction of insurance losses, announced today that its subsidiary, The Roofing Group, has been retained by a large Midwestern based Property and Casualty Insurance Carrier to perform roof inspections prior to this year's storm season. The inspections will be performed on the Carrier's existing Texas portfolio of commercial and multi-family properties with an estimated total value of over $74 million.

The Carrier, like many in the industry, is anticipating an active hail season and has requested a pre-loss roof condition inspection of approximately 150 locations. In addition to the Texas locations, the Carrier is considering expanding inspections to include its Florida locations. In exchange for providing the inspections at a reasonable cost, the Carrier has appointed The Roofing Group as the preferred roofing contractor in the event of hail or wind damage to their portfolio of clients.

"The Roofing Group was selected for this assignment because of its reputation for quality and integrity," commented James Rea, COO of RG America. "The Carrier is also familiar with our stringent underwriting standards and procedures created for the PropertySMART® program, designed to lower risks for commercial and multi-family properties," he added.

The Roofing Group was formed in 2005, in response to heavy demand from its clients for roofing repair and replacement. Through its five operating divisions, the Company continues to capitalize on each division's strengths, efficiencies and profitability. With a broad specialty in the areas of recovery, remediation and reconstruction the Company has established itself as an industry standard for commercial properties that have been affected by severe weather.

About RG America:

RG America is a family of companies delivering both insurance restoration services and targeted insurance services/products. Its restoration subsidiaries specialize in remediation, insurance recovery, roofing, re-construction and project management for insurance losses. The company focuses primarily on multi-family, retail and commercial real estate properties that have experienced catastrophic losses caused by hurricane, flood, fire, wind or hail. RG Insurance Services, Inc. ("RGIS") is a full lines insurance agency. It will be the general agency for RGA's proprietary property and casualty insurance product called PropertySMART®, which delivers improved service and cost savings to the multi-family housing industry.

A number of statements in this press release are forward-looking statements, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of products and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors described in the Company's filings with the SEC. The actual results that the Company may achieve may differ materially from any forward-looking statements due to such risks and uncertainties.

Contact Information

  • Contact:

    Kevin L. Dahlberg
    RG America
    (972) 919-4774 ext. 224

    Tim Clemensen
    Rubenstein Investor Relations
    212-843-9337