Sr. Management Changes at Palmer & Cay

January 31, 2003

Palmer & Cay Inc., a privately-owned insurance brokerage and benefits consulting firm based in Savannah, Ga. appointed James B. Meathe president and chief operating officer. Palmer & Cay’s current president, F. Michael Crowley, has been promoted to vice chairman, announced John E. Cay III, Palmer & Cay chairman and chief executive officer.

Meathe most recently led the Midwest operations for Marsh Inc. In 2000, Meathe was appointed to Marsh’s North America Executive Committee which has oversight responsibility for brokerage operations in the U. S. and Canada. Prior to Marsh, Meathe served as a regional president and managing principal with Johnson & Higgins until its merger with Marsh in 1997.

In his new role as president, Meathe will oversee Palmer & Cay’s property-casualty and benefits consulting divisions, and will seek opportunities for expansion on a national basis.

Crowley joined Palmer & Cay in 1991 as president of the Georgia division and was promoted to president of Palmer & Cay in 1998. Under Crowley’sleadership, Palmer & Cay grew from a regional insurance agency with 150 associates and seven offices to its current status as the 14th largest insurance brokerage firm in the country. Prior to joining Palmer & Cay, Crowley served in senior management positions with Johnson & Higgins for more than 17 years.

In conjunction with Meathe’s appointment, Palmer & Cay will name two new members, John W. Gussenhoven and Joseph P. Platt, Jr., to its board of directors. Both Gussenhoven and Platt are former executive vice presidents and directors of Johnson & Higgins.

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