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

Lahrye Radford, CPCU, the chairman and CEO of AUM, is a 30-year veteran of the insurance industry. He previously was the chief underwriting and marketing officer for American Bankers and Acceleration National Insurance Co. Russell English, a member of AUM's board, is the founder and CEO of Albion Insurance, an international insurance company based in Barbados. Previously, English was the managing director of SCOR UK, Trenwick, and held a senior management position at a Lloyd's of London Syndicate. Both Radford and English will be appointed to Concordis Group's board of directors.

Concordis Group has two insurance subsidiaries: Concordis Insurance SPC (CISPC) and Concordis Capital Inc. (CCI). CISPC, a Cayman Island corporation, is a captive insurance company that specializes in structuring and managing alternative risk management solutions for mid-market companies. CCI, a Florida corporation, provides captive cell funding for CISPC and other businesses and organizations.