DESTIN, Fla., July 27 /PRNewswire-FirstCall/ -- Concordis
Group, Inc. (Pink Sheets: CNGI), a growing financial holding
company, today announced the formation of a new subsidiary:
Concordis Capital, Inc.
The new subsidiary will provide captive cell funding to clients
of Concordis Insurance SPC and will assist other captive service
providers, individual companies and organizations with their
captive cell funding requirements.
Trent S. Sommerville, Chairman
and CEO of Concordis Group, Inc. stated, "When a company,
association or organization begins the process of evaluating the
benefits of a captive, not being able to fund the captive's reserve
is the number one reason it fails to move forward. Concordis
Capital eliminates this obstacle by becoming an equity
partner."
Concordis Capital will play a major role in the company's future
as it continues to execute its business plan.
About Concordis Group, Inc.
Concordis Group, Inc. is a diversified holding company that
provides business insurance solutions through its two wholly own
subsidiaries: Concordis Insurance SPC(CISPC) and Concordis Capital,
Inc.(CCI). CISPC, a Cayman Island corporation, is a captive
insurance company that specializes in structuring and managing
alternative risk management solutions for mid-market companies.
CCI, a Florida corporation,
provides captive cell funding for CISPC and other businesses and
organizations.
Concordis Group's business strategy is based upon strong 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 highly 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.