Dr. Simic to Head AIR’s London Office

May 15, 2007

AIR Worldwide Corporation announced that Dr. Milan Simic has been appointed managing director of AIR Worldwide Ltd., the Group’s London office. He will be responsible for managing strategic operations in London, including overseeing the client services, software services and business development teams and providing strategic input to AIR’s research efforts in the UK and internationally. Simic joins AIR from his former position as co-head of the ReMetrics Natural Hazards team at Benfield.

“Appointing Milan to head up AIR’s London operations illustrates our commitment to our growing client base in the UK and Europe,” stated AIR Sr. VP Uday Virkud. “Dr. Simic’s two decades of risk modeling experience will greatly benefit our clients and I am confident he will succeed in taking our growth strategy in London to the next level.”

Dr. Simic seemed equally pleased about joining AIR, noting that this is the 20-year “anniversary of the introduction of the first commercial catastrophe model.” A civil engineer by background, Dr. Simic has 19 years of experience in risk assessment, engineering consulting, research, and teaching.

Commenting on the importance AIR attaches to its efforts, Virkud noted that the “insurance industry is constantly changing and facing new challenges, especially in the area of catastrophe modeling.” He said Simic’s “experience in the industry makes him ideally suited to lead AIR’s London operations and well prepared to face the high demands from our global client base as we continue with our mission to provide the most credible and scientifically-based models in the industry.”

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