Concordis Group, Inc. Forms Partnership With Insurance Office of America

DESTIN, Fla., Nov. 12  /PRNewswire-FirstCall/ -- Concordis Group, Inc. (Pink Sheets: CNGI) announced today it has formed a strategic partnership with Insurance Office of America (IOA).  IOA will assist the company in expanding its Alternative Risk Management insurance division (Concordis Insurance SPC) by providing sales and consulting services, negotiate and manage claims, secure a fronting insurance company, as needed, for the individual cells within the division and other administrative services.

Trent Sommerville, CEO and Chairman of CNGI stated, "We are very pleased to have such a great company joining our team.  With our recent completion of all regulatory requirements, this partnership continues to strengthen our infrastructure and provide valuable experience as we move forward."

Concordis Insurance SPC will provide its clients with the benefits of owning an alternative risk management insurance company without the cost, infrastructure requirements or the need for administration.  These benefits can save tens of thousands of dollars per year, plus the long-term tax benefits can be substantial.

About Insurance Office of America

IOA is a privately held, full-service insurance agency founded in 1988 and is one of the fastest-growing independent agencies in the U.S.  It is Florida's largest privately-held insurance agency and the home office is located in Longwood, FL with 23 branch offices reaching eight states from coast to coast.

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. 

DATASOURCE: Concordis Group, Inc.



CONTACT:  Trent S. Sommerville, Chief Executive Officer, Concordis Group,

Inc., [phone]

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