Caledonian Insurance Services Appointed Captive Manager of Concordis Insurance SPC in the Cayman Islands

Jan 20, 2010, 11:56 ET from Concordis Group, Inc.

GEORGE TOWN, Cayman Islands, Jan. 20 /PRNewswire-FirstCall/ -- Caledonian Insurance Services, a Cayman Islands based captive insurance management company, announced today that it had been appointed by the directors of Concordis Insurance SPC to be company's insurance manager in the Cayman Islands.

Concordis Insurance SPC is the newest segregated portfolio company to be established in the Cayman Islands and is owned by Concordis Group, Inc. (Pink Sheets: CNGI), a diversified holding company that provides investment brokerage services and business insurance products for its clients.

Caledonian Insurance Services, part of the Caledonian group of companies, was incorporated in the Cayman Islands in 2001 and has operations in the Cayman Islands and the British Virgin Islands.  It currently has assets under management in excess of US$1 billion.  With its expertise in managing segregated portfolio companies, Caledonian is particularly well positioned to help the directors develop this new company.

About Concordis Group, Inc.

Concordis Group, Inc. is a diversified holding company that provides investment brokerage services and business insurance products for its clients.  The company provides these products and services through its two wholly owned subsidiaries: Concordis Insurance SPC and Puritan Securities, Inc.

The company's acquisition strategy focuses on finding companies that will create additional synergy and have positive cash-flow, strong growth potential and highly qualified management teams.  These industry sectors include financial services and insurance.

SOURCE Concordis Group, Inc.