October 07, 2009 17:20 ET

U.S. RE Licensed in Brazil as Part of International Expansion

PEARL RIVER, NY--(Marketwire - October 7, 2009) - U.S. RE Companies, Inc., the international reinsurance brokerage and financial services firm, has today been approved by the Brazilian regulatory authorities to launch the Company's new subsidiary, U.S. RE Do Brasil Corretora de Resseguros, LTDA, as a reinsurance broker with offices in São Paulo.

Approval of the new office in Brazil followed yesterday's announcement that U.S. RE has entered into a strategic alliance with Bruno Sforni S.p.A., a leading insurance and reinsurance broker in Milan, Italy.

"U.S. RE is on the move as we create new offices in Latin America, Europe and elsewhere," said Tal P. Piccione, Chairman and Chief Executive Officer. "We long have had a strong presence in Europe with our head office in Basel, Switzerland, and we have had an office in Istanbul, Turkey for several years. Last year, in addition to establishing an office in Copenhagen, Denmark, the Company took its first step in Africa with the opening of an office in Mauritius. Over the years, U.S. RE has done business in Japan, and we're looking to extend our presence in Asia," Piccione added.

"As one of the largest independent brokers operating globally, U.S. RE is a formidable competitor. We're moving aggressively to grow our business in the United States and around the world along with investing in technology and actively exploring acquisition opportunities," Piccione declared.

U.S. RE Do Brasil Corretora de Resseguros, LTDA (U.S. RE Brazil Reinsurance Broker, LTC, LLC), will be headed by Massimo Dominici, a prominent broker in São Paulo. "With recent enactment of legislation opening Brazil to foreign reinsurance brokers, we're pleased to bring this growing market U.S. RE's expertise and access to worldwide reinsurance," Piccione said.

Riccardo Nicolini, Senior Vice President of International Operations, said U.S. RE Do Brasil will offer all categories of reinsurance including proportional, facultative, excess-of-loss, and catastrophe protection to insurers in Brazil.

The office is located at Rue Manuel da Nobrega N.° 111 - Conjunto 112, Cep 04001-080 Vila Mariana - São Paulo, Brazil; Tel: +55 11 3262-1670; Email: inbroker@terra.com.br.

Contact Information

  • For more information, contact:
    Mechlin Moore
    MDM Communications
    Tel: 845-920-7081
    Email: Email Contact