DESTIN, Fla., Aug. 4 /PRNewswire-FirstCall/ -- Concordis Group, Inc. (Pink Sheets: CNGI), a growing financial holding company, today announced its current sales pipeline has increased 300% in the second quarter of 2010.
Concordis currently has 16 programs any various stages of development. Of these 16 captive cell programs, three are scheduled to be launched in 2010. The remaining 13 programs are in the due diligence and planning stages.
Trent S. Sommerville, Chairman and CEO of Concordis Group, Inc. stated, "Expanding our sales pipeline is a key ingredient to achieving our growth strategy. Moving forward, CNGI will continue to look for opportunities where our alternative risk solutions can provide our clients greater control over their insurance, better risk management and lower their insurance costs."
These captive cell programs cover a wide range of industry sectors, including: food services, healthcare, retail, financial services and associations.
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.