Veteran Captive Insurance Executive Joins Concordis Board of Directors

Oct 04, 2010, 10:18 ET from Concordis Group, Inc.

DESTIN, Fla., Oct. 4 /PRNewswire-FirstCall/ -- Concordis Group, Inc. (Pink Sheets: CNGI), a growing financial holding company, today announced the appointment of Rick Stasi, a 30 year insurance veteran, to its Board of Directors.

Trent S. Sommerville, Chairman and CEO of Concordis Group, Inc. stated "We are very fortunate to find someone with Rick's background to join our board.  His experience in the captive insurance industry will provide valuable insight as we continue to move forward and grow the company."

Mr. Stasi is the Chief Operating Officer of the alternative risk division for Avizent Risk.  He is responsible for overall operations of Avizent's alternative risk programs, which includes individual, group and agency captives, and insured programs.  Stasi has 30 years of commercial insurance experience and also oversees Avizent's Bermuda-based captive reinsurance company, Atlantic Gateway International, Ltd.

Since joining Avizent, Stasi has been instrumental in forming over 50 alternative risk programs for agents, brokers, and clients. These programs have successfully returned cash dividends back to the participants from good underwriting profits.

Before joining Avizent, Mr. Stasi served as the Director of Alternative Risk Operations for Powell-Walton-Milward (part of Palmer & Cay).  He led the sales department at Van Meter Insurance and held several key management positions for CNA Insurance Company.

He holds a B.S. degree in both Business Administration and Occupational Safety & Health from Illinois State University, and holds both CPCU and ALCM professional designations.  Rick is also a licensed P&C agent.

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.

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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.