Corporate Update for the Leeward Group, Inc.
07 September 2010 - 12:30PM
Leeward Group, Inc., a wholly owned subsidiary of Principle
Security International Inc. (OTCBB:PCPZ), announced today a few of
its corporate objectives for the next 12 months.
-Be in the Top 30% of All Independent Insurance Agencies
in the United States:
We believe that scale provides an advantage to an insurance
agency because it allows them to offer more products and services
to their clients. This typically results in more
sales. As such, our goal is to be in the Top 30% of all U.S.
independent agencies within the next 12 months. Based on a
2008 study by the Independent Insurance Agents & Brokers of
America, 68% of the independent insurance agencies sampled have
$1.25 Million or less in Commission Income. Leeward Group
finished 2009 with over $10 million in premiums and over $1 million
in commission income.
-Double the size of our Franchised Hotel/Motel Umbrella
Program:
We have developed a niche umbrella product designed for
franchised, limited-service hotels & motels. Within the
next 12 months, our goal is that this will become a national
program and that sales in the program will double
(year-over-year).
-Substantially Increase our Association and Affinity
Insurance Business:
Association/Affinity business is an attractive market segment
for insurance because it enables you to economically market niche
products to a homogeneous group. By leveraging our existing
association platform, the Company is looking to grow this business
by adding new Association clients. Along those lines, the
Company is currently in discussions with two national associations
and several State and regional associations to bring them various
insurance products.
-Increase Health Insurance Sales:
The sale of Health insurance represents an area of potential
growth for the Company. In 2009, Group Health insurance
premiums in the U.S. reached nearly $600 Billion. In that same
period, the Company derived less than 5% of its total revenue from
this segment. The Company is looking to grow premiums in this
sector by 50% to 100% over the next 12 months. We aim to do
this by cross-selling into our existing Property-Casualty client
base and also by adding online quoting capabilities.
-Target Sales to the Hispanic Market:
The demographics of the Hispanic market are attractive from a
growth perspective. The Company acquired a niche agency in
late 2009 that specializes in the Hispanic market and we are
allocating resources to grow this segment via tailored
marketing.
About Principle Security International, Inc:
Principle Security International Inc. through its wholly owned
subsidiaries Leeward Group, Inc., Sangamon Associates, Inc.,
Flagship Insurance Agency, Inc. and Leeward Insurance Agency, Inc.
operates a full-service insurance agency and consulting firm
serving businesses and individuals throughout the Northeastern
United States.
The Company is based in Pennington, New Jersey and it has five
retail locations. Three of the locations are in New England
and 2 locations are in the Mid-Atlantic. With licenses in all 50
States, the Company offers Property and Casualty, Life and Health
and specialty insurance programs for individuals, associations and
groups throughout the United States.
Forward-looking statements:
This press release contains "forward-looking statements", as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Statements in this press release which are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future, including but not limited to that the company
may: (1) be in the Top 30% of All Independent Insurance
Agencies in the United States; (2) double the size of its
Franchised Hotel/Motel Umbrella Program; (3) substantially increase
its Association and Affinity Insurance Business (4) increase
Health Insurance Sales; or (5) will be able to target sales to
the Hispanic market The user should read statements that contain
these words carefully because they discuss future expectations,
contain projections of future results of operations or of financial
condition, or state other forward-looking information. The
risk factors listed in our disclosure documents provide examples of
risks, uncertainties and events that may cause actual results to
differ materially from the expectations and projections described
by the Company in its forward-looking statements. Actual
results relating to, among other things, reserves, results of
exploration, capital costs and production costs could differ
materially from those currently anticipated in such
statements. Factors affecting forward-looking statements
include: changes in anticipated acquisition and operating costs;
changes in economic conditions and conditions in the insurance
industry and other financial markets; changes in the interest rates
on borrowings; hedging activities; changes in the prices for
services that the Company provides; litigation; legislation;
environmental, judicial, regulatory, political and competitive
developments in areas in which the Company operates; technological,
mechanical and operational difficulties encountered in connection
with the Company's activities; and labour relation matters and
costs. The user should refer to the risk disclosures set out
in the periodic reports and other disclosure documents filed by the
Company from time to time with the Securities and Exchange
Commission and other regulatory authorities.
CONTACT: Leeward Group, Inc.
A wholly owned subsidiary of
Principle Security International, Inc.
(609) 216 7957
investorrelations@leewardgroup.com
http://www.leewardgroup.com/
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