IRVINE, Calif., Jan. 24, 2007 (PRIME NEWSWIRE) -- Sage Global Solutions, Inc. (Pink Sheets:SGGL) (Frankfurt:Q9A) announced today that, through its PremierPoint Insurance Services subsidiary, it has entered into an exclusive wholesale agreement with Global Benefits Group, Inc. (GBG), a unique insurance organization providing healthcare products, financial services and travel insurance in the U.S. and worldwide.
As part of the agreement, GBG will take an equity stake in Sage Global and has opened discussions for future additional investment. GBG will develop various insurance and related programs for which PremierPoint will provide marketing support. GBG will provide specified underwriting, administrative and marketing support services. The two entities will jointly develop healthcare, travel and related programs, which PremierPoint will market to its appointed agents, branded as product services of PremierPoint Insurance Services on an exclusive basis.
"The wide spectrum of products and services available through Global Benefits Group and its affiliates shere in the U.S. and abroad represent unique opportunities for PremierPoint agents and brokers to better serve their clients," said John C. Kirwan, president of PremierPoint. "This alliance further expands our market reach and product offering within this under-served market niche."
"With the globalization of the world's economy and the increased reliance by business on a cross border workforce, the importance of insurance protection that transcends international frontiers is crucial. GBG is a leader in providing truly international health, life, disability and travel protection programs," said Armando Baez, FLMI, vice president for special markets for Global Benefits Group, Inc. "Linking up with the right program distributor is always of critical importance to us. That is why we are pleased that Sage Global, through its PremierPoint subsidiary, has agreed to help us develop, promote and distribute our unique programs to the international business community, starting with the staff leasing industry."
About Global Benefits Group Inc.
Global Benefits Group was founded to administer employee fringe benefits and to serve the specialized needs of the international community. Today, after two decades, GBG continues to develop and implement benefits programs that encompass all areas of the financial field, from health insurance to retirement planning. With full-time representatives on five continents, GBG supports its products with local personal service in all regions of the world.
About Sage Global Solutions
The mission of Sage Global is to present a full spectrum of insurance and financial services and solutions for small to medium businesses. Sage currently has five wholly owned subsidiaries including: Express Notary Service, Inc., Online Mortgage Inc., RJC Insurance Services, and PremierPoint Insurance Services and JPJ Reinsurance. PremierPoint offers innovative insurance products specializing in Workers' Compensation and the utilization of captive programs. PremierPoint also provides traditional wholesale agency products, program consulting and risk management assistance to insurance agents and carriers. RJC Insurance Services is a premier commercial insurance agency based in Southern California. Express Notary Service, Inc. is an online mobile notary service that specializes in loan document closings and has an extensive network of notary agents throughout the U.S. Online Mortgage Inc. is a lead generation and marketing portal. JPJ Reinsurance issues insurance policies to insurance carriers in select markets for select risks. Over the past several months Sage has taken significant steps toward reaching its goal of becoming a complete insurance and financial services institution and will continue to seek acquisitions, positioning itself as a market leader in a rapidly-growing industry. Visit http://www.sage-global.com for more information.
Safe Harbor Statement
Statements in this press release about the company's future expectations other than historical facts are "forward-looking statements." It is important to note that actual results could differ materially from those in such "forward-looking statements" and "forward-looking statements" are inherently subject to risks and uncertainties.