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U.S. RE Expands European Operations -- Forms New Subsidiary to Serve EU
| Source: U.S. RE Companies, Inc.
PEARL RIVER, NY--(Marketwire - March 17, 2008) - U.S. RE, the international financial
services company, is expanding its European operations, Tal P. Piccione,
Chairman and Chief Executive Officer, announced today.
The Company has formed a new subsidiary, Euro RE Aps, licensed by the
European Union to do business across the Continent. "The new company will
serve as our trading entity in EU countries," Piccione said. "We're pleased
that Mark Lucas, Managing Director of U.S. RE-Europe for the last 13 years,
will head up Euro RE Aps."
Piccione also announced the opening of a new brokerage office in
Copenhagen, Denmark, with Carsten Tornbo as Reinsurance Broker. Tornbo, an
experienced reinsurance executive, has been serving as a consultant to U.S.
RE-Europe and will assume responsibility for the new office.
Headquarters for Euro RE Aps will be operated in tandem with U.S. RE-Europe
based in Basel, Switzerland, both under the direction of Mark Lucas. "Mark
has done an outstanding job over the years in building our business in
Northern Europe," Piccione commented. "We're confident that with his
leadership, Euro RE Aps will serve insurance and reinsurance companies in
more countries throughout the EU."
U.S. RE Companies, Inc. provides reinsurance brokerage, and consulting
services through its subsidiary U.S. RE Corporation with offices in New
York, Atlanta, Bermuda, Basel, and Istanbul.
Uni-Ter Underwriting Management Corporation, a member of the U.S. RE Group
with headquarters in Atlanta, is a leading provider of liability insurance
to the healthcare industry through Risk Retention Groups that operate in 45
states. Other members of U.S. RE Companies include U.S. RE Securities LLC,
U.S. RE Risk Alternatives LLC, and Uni-Ter International Insurance Company,
Ltd.
For more information, visit our web site, www.usre.com.