CATEX announced today that Cooper Gay & Cashman (CGC), a new US reinsurance broker, jointly owned by the London-based Cooper Gay Group, Michael W. Cashman, and CGC employees, has subscribed to a CATEX developed, web-based Reinsurance Transaction Service based on the CATEX proprietary Pivot Point Technology.

The service is entirely web-based and allows a reinsurance intermediary to fully manage all aspects of its business on-line, any time, from any location in the world. Pivot Point technology also permits a reinsurance intermediary to offer enhanced system access to its clients and markets, if it so chooses.

Cooper Gay & Cashman CEO Michael Cashman commented, “Pivot Point is a proven service that will provide the scalable infrastructure we require to deliver world-class service to our clients. The web-based technology will allow us to offer our clients, markets, and employees anywhere and anytime access to mission critical information.”

Frank Fortunato, CEO of CATEX noted, “We look forward to deploying the Pivot Point Service and to working with the Cooper Gay & Cashman team as they continue to grow and expand their business. We have known Cooper Gay in London for many years and Mr. Cashman’s reputation in the reinsurance industry is known to all. It will be exciting to work with a group involving both parties.”

The CATEX Pivot Point Service is composed of an extensive range of proprietary applications and has been developed using exclusively Microsoft technology. The technology can provide the full range of transaction components for reinsurance and insurance transactions as managed by an intermediary. The technology may be customized to accommodate specific client requests or may be used in a basic version.

About The Catastrophe Risk Exchange International, Inc. (CATEX):
The Catastrophe Risk Exchange International, Inc. (CATEX) is a leading provider of web-based trading and back-office services to the international insurance and reinsurance market. The PivotPoint Service, a completely web-based insurance and reinsurance management system, is the company’s flagship service. A significant percentage of the top reinsurance intermediaries in the world have subscribed to the PivotPoint service. Over 100 different syndicates, insurers, reinsurers and brokers conduct business on Pivot Point daily. CATEX develops its systems exclusively using Microsoft technology. CATEX also operates the CATEX Global Exchange, a web-based reinsurance marketplace. The company has been in operation since 1994 and has offices in Princeton, NJ and London. More information at www.catex.com.

About Cooper Gay & Cashman, LLC:
Cooper Gay & Cashman,LLC: Cooper Gay & Cashman, LLC, a privately owned joint venture between Cooper Gay Holdings (London), Michael W. Cashman, and CGC employees, is headquartered at 601 Carlson Parkway in Minneapolis. CGC is a reinsurance intermediary focusing on traditional and specialty treaty reinsurance in North America.