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USA Risk Group to Enhance Bermuda Operation with Addition of Cedar Management Limited June 13, 2008 USA Risk Group today announced it has agreed, subject to regulatory approval, to purchase a majority ownership in Cedar Management Limited, with the effective date of the change to be July 1, 2008. Messrs Tom McMahon, Mick Larkin and Dennis Silvia will remain as substantial shareholders and, along with the other members of staff, will work to ensure a smooth integration into the USA Risk family of companies. Stuart Grayston, President of USA Risk’s offshore operations, stated “We are pleased to be partnering with Tom, Mick and Dennis to improve our footprint in Bermuda. USA Risk has a stated goal of being a leading player in all the leading domiciles and the experience and skill set of Cedar will allow us to be a significant independent presence in Bermuda and all of the North American alternative marketplace.” Cedar Management was formed by a management buyout in 2005 of the former CNA captive management operation and the combined company will have seven staff managing twenty three captives in Bermuda. The company will continue to trade as Cedar Management Limited. About USA Risk Group, Inc. USA Risk Group is a leading independent provider
to the alternative risk market, providing captive management, program
administration, reinsurance and other related services in all major North
American domiciles, Bermuda, Cayman and the British Virgin Islands. More
information about USA Risk Group is available at www.usarisk.com.
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