The Destin, Fla.-based financial holding company Concordis Group, Inc. has signeda letter of intent to acquire Advance Underwriting Managers LLC(AUM). AUM is based in Columbus, Ohio, and also has a Santa RosaBeach, Fla., office.

Lahrye Radford, CPCU, the chairman and CEO of AUM, is a 30-yearveteran of the insurance industry. He previously was the chiefunderwriting and marketing officer for American Bankers andAcceleration National Insurance Co. Russell English, a member ofAUM's board, is the founder and CEO of Albion Insurance, aninternational insurance company based in Barbados. Previously,English was the managing director of SCOR UK, Trenwick, and held asenior management position at a Lloyd's of London Syndicate. BothRadford and English will be appointed to Concordis Group's board ofdirectors.

Concordis Group has two insurance subsidiaries: ConcordisInsurance SPC (CISPC) and Concordis Capital Inc. (CCI). CISPC, aCayman Island corporation, is a captive insurance company thatspecializes in structuring and managing alternative risk managementsolutions for mid-market companies. CCI, a Florida corporation,provides captive cell funding for CISPC and other businesses andorganizations.

AUM will be a wholly owned subsidiary of Concordis Groupfollowing the acquisition, which is expected to close by November15.