Concordis Group, a provider of business insurance services, is planning to procure an undisclosed domestic insurance company and is currently in the process of signing a letter of intent.
As previously announced on 4 October 2012, Concordis Group CEO Thomas Blake is expected to sign the letter within the next few days.
Based out of Utah, the property and casualty insurance company provides construction insurance through its subsidiaries in four states and receives between 11-12 million in premiums.
The company provides business insurance services through its two wholly own subsidiaries, Concordis Insurance SPC (CISPC) and Concordis Capital (CCI).
CISPC provides structuring and managing alternative risk management solutions for mid-market companies, while CCI provides captive cell funding for CISPC and other businesses and organizations. Intermediaries Brokerage