Concordis Group, Inc. Partners With Avizent Risk to Provide Risk Sharing Captive for Restaurant Franchisees
DESTIN, Fla., Aug. 17 /PRNewswire-FirstCall/ -- Concordis Group, Inc. (Pink Sheets: CNGI), a growing financial holding company, today announced it is partnering with Avizent Risk (www.avizentrisk.com) to provide alternative risk solutions to restaurants throughout the U.S.
The Restaurant Franchise Captive Program II(RFCP2) will be a group captive insurance program for restaurant, retail food business owners and franchises that are members of well established national or regional companies.
Trent S. Sommerville, Chairman and CEO of Concordis Group, Inc. stated, "We are very pleased that Avizent has invited us to participate with them in the Restaurant Franchise Captive Program. We will also be working with Avizent to provide Third Party Administrator(TPA) services to our clients."
"Our newest program highlights the reality that captives today are not just for the hard market," notes Rick Stasi, Chief Operating Officer at Avizent Alternative Risk. "Our program gives brokers the chance to offer their clients more value-added services and gives organizations that are not familiar with captives the opportunity to participate. Plus, analysts believe the hard market is coming, so now is clearly the ideal time to move forward with a captive arrangement."
The RFCP II program includes Atlantic Gateway International SAC ltd., Frank Gates Bermuda, UAR Investments LLC, and Concordis Group, Inc. Some of Avizent's customers include: Signal Mutual, Wal-Mart, Commonwealth of Virginia, Coca-Cola, Honda, Peabody Energy, 7UP/RC Cola, United Parcel Service, Enterprise Rental Car, AL Truckers, AL Assoc. of General Contractors and Workers First.
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.
Avizent, based in Columbus, Ohio, is one of the most innovative claims and risk management service providers in the United States. They offer client-defined solutions in claims management, managed care, alternative risk and risk management information systems. The company has over 40 locations nationwide.
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.
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