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U.S. RE Launches Underwriting Management Group Names Shuttleworth President

U.S. RE Companies, Inc has launches an underwriting management subsidiary and named J. Sterling Shuttleworth President and Chief Executive Officer.

Uni-Ter Underwriting Management Corporation (UUMC) is a wholly owned subsidiary that will serve to expand the U.S. RE Group's underwriting management activities. U.S. RE also holds a majority interest in AMG/Quadrant Insurance Managers which is affiliated with Assurex International, the world's third largest retail broker network.

Mr. Shuttleworth, a senior executive with 35 years' experience in all aspects of property/casualty insurance, will head Uni-Ter Underwriting Management. He will report directly to Mr. Piccione. UUMC will operate from headquarters in Atlanta, GA. The Company will specialize in property/casualty insurance for nursing homes and other health care facilities. UUMC will offer professional liability, property damage, general liability, workers' compensation, and other coverages required by health care providers.

"Activation of Uni-Ter Underwriting Management Corporation represents another major move into the underwriting management sector by U.S. RE," said Tal P. Piccione, Chairman. "Sterling Shuttleworth has the experience and leadership qualities to create a successful enterprise that will provide an important new market for clients in the health care arena. He has a tremendous reputation among insurers and reinsurers," Mr. Piccione added.

"I'm pleased to be affiliated with the U.S. RE Group and welcome the opportunity to build a strong underwriting management operation that will benefit from synergy with other units of U.S. RE," Mr. Shuttleworth said.

UUMC's insurance programs will be distributed through a network of highly qualified brokers, agents, and other service providers. The Company also will facilitate alternative risk transfer mechanisms for clients with specialized requirements. In addition, UUMC will offer claims management services.

UUMC has been selected by MEDMARC Casualty Insurance Company to handle its nursing home programs, Jaxon A. White, President and Chief Executive Officer, announced. "We have enthusiastically selected Uni-Ter Underwriting Management Corporation to succeed the Northern Group as the managing general agency for our general and professional liability coverage program for nursing homes and other sub-acute care facilities," Mr. White said.

Mr. Shuttleworth comes to UUMC after serving for 10 years as President of the Northern Group, Inc., a specialist in insurance for health care facilities. Earlier, he served as a senior officer of insurance brokerage firms where he focused on the health care industry. Mr. Shuttleworth holds a BS degree from the University of Tennessee and an MBA from Georgia State University.