Leeward Group on the Verge of Being in the Top 30% of Agencies in the US
September 16 2010 - 5:30AM
Marketwired
Leeward Group Holdings Inc. (OTCBB: PCPZ) is on the verge of being
among the top 30% of independent insurance agencies in the United
States and the Company is moving closer to its goal of being named
as a Top 100 Agency. 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.
The Company anticipates that it will be in the top 30% of
independent insurance agencies by the end of this year. Thus far in
2010, the Group added three new sales people and closed on one
agency acquisition (December 2009). These additions should assist
in aiding Leeward's growth in 2010 and beyond. According to Kevin
Coughlin, CEO of Leeward Group, "Our goal is to be a top 100 agency
within a short time period. We estimate that it will take about $80
Million in premiums to make the list. We have not had a shortage of
agency owners approaching us about selling their agency."
Leeward Group Holdings Inc. through its wholly owned
subsidiaries 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 while
the other two are in the Mid-Atlantic. With licenses in all 50
States, the Company offers Property & Casualty, Life &
Health and specialty insurance programs for business, 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 be in the top 30% of independent insurance agencies by
the end of this year, Leeward's growth in 2010 and beyond, that it
may be a top 100 agency within a short time period, or that the
Company may achieve $80 Million in premiums. 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.
Leeward Group Holdings Inc. www.leewardgroup.com (609) 216
7957
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