DESTIN, Fla., March 31 /PRNewswire-FirstCall/ — Concordis Group, Inc. (Pink Sheets: CNGI), a growing financial holding company, announced today that it has recently developed a pipeline of five potential captive insurance cells in a wide range of industries and states. Concordis Group anticipates that a majority of these captive insurance cells will be created and launched by December 2010.
Trent Sommerville, CEO of Concordis Group, Inc. stated that, “The business community’s growing understanding of long-term strategic merit of operating a captive insurance cell appears to have become more widely understood and embraced by middle market companies, affiliated groups, and associations.”
Edward Valaitis, COO of Concordis Group, Inc. stated that, “Our unique value proposition, depth of expertise, and willingness to be an equity partner with our clients has created an attractive value proposition for those seeking greater control of their insurance, better risk management, and potential cost savings.”
Concordis Group, Inc. will provide additional updates and detail as the developing captive insurance cells approach completion.
About Concordis Group, Inc.
Concordis Group, Inc. is a fast growing diversified holding company that provides investment banking services and business insurance solutions through its two wholly owned subsidiaries. Concordis Insurance SPC (CISPC), a Cayman Island corporation, is a captive insurance company that specializes in structuring and managing alternative risk management solutions for mid-market companies.
Puritan Securities, Inc. is an investment bank dedicated to providing outstanding financial and strategic advisory services for mid-market firms. Using its specialized capabilities and background, the Puritan Securities, Inc. assists clients with mergers and acquisitions, raising debt and equity capital, and strategic counsel.
Concordis Group’s unique strategy is based upon a dedication to organic growth combined with strategic acquisitions of companies in the financial services and insurance industries that create additional synergy, have positive cash-flow, exhibit strong long-term growth potential, and have well qualified management teams.
Safe Harbor for Forward-looking Statements
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause the Company’s expectations and beliefs about its operations, its services and service offerings, its results to fail to materialize. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
SOURCE Concordis Group, Inc.