DESTIN, Fla., Jan. 19 /PRNewswire-FirstCall/ -- Concordis Group, Inc. (Pink Sheets: CNGI), a growing financial holding company, announced today it has received final approval from the Cayman Island Monetary Authority (CIMA) to operate as an Alternative Risk Management Insurance company. The company will provide these insurance solutions through its wholly owned subsidiary Concordis Insurance SPC.
Trent Sommerville, Chairman and CEO of Concordis Group stated, "By inviting clients to participate in our alternative risk financing programs, Concordis will provide its clients with the benefits of risk participation without the costs, time, administration and infrastructure requirements usually associated with traditional methods. We believe these benefits can save our clients tens of thousands of dollars per year."
With the overall challenging economic conditions, many businesses are looking for ways to lower expenses. Alternative Risk Management solutions provided by Concordis Insurance SPC will allow businesses to better manage and finance their corporate risk.
Mr. Sommerville continued, "Caledonian Insurance Services has been appointed the Cayman manager of the new company, Concordis Insurance SPC."
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.