SOURCE: Ultimate Risk Solutions, LLC

April 29, 2008 09:00 ET

Ultimate Risk Solutions Names Tal Piccione Non-Executive Chairman

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
    Email Contact

    Marketing:
    Anya Kutsina
    URS, Inc.
    +1-917-750-2141
    Email Contact