For Immediate Release September 2, 2004
New York, NY - Mario J. Vitiello has been named President of U.S. RE Risk Alternatives, LLC, a unit of the U.S. RE Group, Tal P. Piccione, Chairman and Chief Executive Officer of U.S. RE Companies, Inc., announced.
Mr. Vitiello "is recognized as an industry leader in the alternative risk transfer (ART) marketplace and will bring to Uni-Ter more than 20 years' experience in the formation and management of captives and other alternative risk transfer mechanisms," said Mr. Piccione.
"Member companies of the U.S. RE Group are increasingly active in the creation and operation of captives, rent-a-captives, and risk retention groups. Mario Vitiello has been involved in every aspect of ART and will strengthen U.S. RE's commitment to this growing sector of our business," Mr. Piccione added.
After serving in senior positions at Crum and Forster for 14 years, Mr. Vitiello headed risk management services companies that provided alternative risk consulting and management services to large insureds, associations, agents/brokers, and professional groups. Mr. Vitiello holds B.A. and M.B.A. degrees from Bloomfield College and Fairleigh Dickinson University respectively.
U.S. RE Companies, Inc. is the parent and holding company for the U.S. RE Group, a financial services firm involved in the facilitation of risk transfer and asset protection for insurance and reinsurance buyers. The group provides reinsurance brokerage services; consulting and arrangement of alternative risk financing; underwriting, claims and risk management; captive facilitation; and other activities including venture capital investments in insurance related properties.
The Group also works directly with buyers of insurance in the construction of alternative risk transfer mechanisms and unique merchandising schemes. Formed 16 years ago, U.S. RE has been dedicated to international growth, building on a strong foundation of domestic business, innovative product development, and client service.
For more information, contact Mechlin Moore, MDM Communications (Tel. 239-777-1595; Email mmoore7412@aol.com ).
