Wyncrest Group, Inc. an Insurance Consortium, Is Continuing Its Efforts to Enter...
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Wyncrest Group, Inc. an Insurance Consortium, Is Continuing Its Efforts to Enter Latin American Market CHICAGO, Sept. 16 /PRNewswire/ -- As was announced on July 28th, 2009, The Wyncrest Group, Inc. (Pink Sheets: WNCG) a niche insurance consortium today reaffirms that its pending acquisition of Florida Insurance Consulting Inc. is moving forward towards an agreement on the terms for the acquisition. Wyncrest has been provided with (FIC) financials and is in the process of its due diligence. The acquisition is still targeted for completion in the 4th quarter. Once again, this acquisition is an important key to our growth in the Latin American markets. With the huge growth of the Spanish speaking population in the US, many markets are underrepresented and many families and businesses need an insurance and financial services provider. Wyncrest plans to acquire insurance and financial services businesses and capitalize their most valuable asset of interest being the customer database with servicing contracts. These acquired customers and agent relationships provide immediate cash flow with little variable cost with fertile prospects for add on business with new clients and affiliate agents. Keith Lanzara, President of the Wyncrest Group, pointed out, "Acquisitions are limited to a book of business that has predictable revenue from policy renewal commissions. Costs can be reduced with a consolidated database administrator to improve customer retention and up selling. Typical deals will payback in 3 years using basic assumptions but Wyncrest's efficiencies claim to move the payback to 2 years. Likewise, intellectual property development is a low cost revenue producer from existing resources." Targeting Latin Americans: This demographic seems to be the most sought after by insurers. Hispanics represent the largest minority group in the United States with 44.3 million or 14.8% of the population. Latin Americans are also the fastest growing minority group and account for nearly half (1.4 million) the national population growth from 2005 to 2006. In U.S. history, there has never been an immigrant group that has grown to its current size while continuing to maintain its language, cultural values and traditions This makes Latin Americans a sizeable target for marketers in all industries. For more information, please contact Investor Relations at +1-630-215-5171 About The Wyncrest Group, Inc. The Wyncrest Group, Inc. is a publicly traded holding company focused on financial services and the insurance industry. Based in the Chicago, Illinois metropolitan area, the company is expanding into the offshore insurance industry. It is strategically positioning itself to take advantage of the potentially rapid expansion of certain specialty insurance products and services lines that are in high demand but which are underserved by existing providers. Through WNCG's wholly owned subsidiary, Southwest Financial Group (SFG), the company has operated for twenty-one years. SFG has 22,000 clients and 85 representatives nationwide, and generated approximately $22 million in gross sales of insurance policies during 2008. In addition to its core offerings, SFG also has growing interests in long-term care for student sports programs and student athletes, as well as pet insurance. SFG is currently engaged in selling an array of quality life protection products and services including: family and personal insurance; real estate and asset insurance products and services; niche tax and wealth building strategies; employee group benefits; 401K Retirement Plans; earthquake, flood and disaster insurance; debt reduction; and alternative investments; and mortgage purchasing & refinancing. This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. WNCG has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the WNCG's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the WNCG's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. WNCG undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements. SOURCE Wyncrest Group, Inc. Investor Relations of Wyncrest Group, Inc., +1-630-215-5171, email@example.com
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