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TCIP appoints US RE to place reinsurance for earthquake risk

The Turkish Catastrophe Insurance Pool (TCIP) has appointed international reinsurance brokers US RE Corporation along with its Turkish partner, Turker Insurance and Reinsurance Brokers, as one of the Consortium Brokers to place reinsurance for the Pool's earthquake risk.

US RE has been appointed by TCIP as one of the consortium members along with Willis Re and Guy Carpenter.

The US RE project team is composed of Fedor; Marc Piccione, vice president; and Eray Turker US RE country manager in Turkey.

US RE Companies chairman and CEO Tal Piccione said that the company is pleased to be selected by TCIP and will apply the extensive experience in placing catastrophe protection in disaster prone areas including Florida to this important assignment.

TCIP, a quasi-governmental entity, was created by the Turkish government to provide basic insurance protection against household’s property losses caused by earthquakes and purchases protection for itself up to a limit of EUR 1.8bn.

US RE Companies is a financial services firm with interests in reinsurance brokerage; underwriting, risk, and claims management; program business, analytics, consulting, and investment banking.