IRVINE, Calif., Oct. 16, 2006 (PRIMEZONE) -- Sage Global Solutions, Inc. (Pink Sheets:SGGL) announced today that it has agreed to acquire JPJ Reinsurance, based in the Cayman Islands.
"We are very pleased to be bringing JPJ Reinsurance into our growing family of financial and insurance companies. JPJ will play a critical roll, enabling us to offer superior products with the advantage of tremendous cost savings," said Henry Davidson, CEO of Sage Global Solutions. "JPJ is a perfect fit for Sage Global, falling right in line with our strategy of intelligent growth through organic success and revenue-generating acquisitions."
The agreement to acquire JPJ is subject to certain regulatory approvals and filings as well as board approval.
About JPJ Reinsurance
Based in the Cayman Islands, JPJ Reinsurance issues insurance policies to insurance carriers in select markets for select risks. To address its clients' needs, JPJ specializes in workers' compensation and general liability coverages. "We provide our clients with superior growth and value through the delivery of innovative reinsurance products and services, and excellent facultative underwriting support," said Phil Sanchez, CEO of JPJ Reinsurance. JPJ Reinsurance's main goal is to be a leading reinsurer whose products, services, and ideas are considered essential by its clients for their future prosperity and development.
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 and the individual retail customer. Sage currently has 5 wholly-owned subsidiaries including; Express Notary Service, Inc., Online Mortgage Inc., RJC Insurance Services, and PremierPoint Insurance Services. 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 consisting of over 50 integrated URL's, each with over 250,000 pages of consumer-useful information. RJC Insurance Services is one of the premier retail insurance service providers in California, with a unique array of product offerings when coupled with PremierPoint Insurance Services. 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. The name Express Notary is a copyright of Express Notary Service, Inc.