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Insurance broker Palmer & Cay has opened an office in Dallas to offer property/casualty and benefits brokerage services, the brokerage said in a statement Wednesday.
Atlanta-based Palmer Cay named Howard H. McClure III as president of Palmer & Cay of Texas, L.L.C. He will also serve on the firm’s executive committee.
Mr. McClure had served as president of the predecessor firm’s Texas operations from 2002 to 2005. Prior to his most recent appointment, Mr. McClure served as the regional managing director since 2012 for Wells Fargo Insurance’s Southwest region, the statement said.
In conjunction with its expansion to Dallas, Palmer & Cay is adding employee benefits consulting to its service offering.
The firm plans to recruit 10-12 insurance professionals in the next year and says the Dallas office will employ more than 40 professionals in three years, according to the statement.
“Our strategy in the property/casualty insurance area is to specialize in key industry sectors including private equity, real estate, hospitality, restaurant, and construction,” Mr. McClure said in the statement.
“In addition, we will strongly emphasize employee benefit services as the Affordable Care Act has created a very challenging environment for organizations of every description and the demand is growing,” he added.
After the predecessor firm Palmer Cay was acquired by Wachovia Corp. in 2005, former company president Jack E. Cay IV launched the new Palmer Cay in 2009.
The privately held firm now operates offices in Atlanta, Savannah, Georgia, Charleston, South Carolina, and now Dallas, providing property and casualty insurance brokerage services and risk management consulting services to middle market and large corporate clients, the statement said.
Arthur J. Gallagher, the London-based international arm of brokerage Arthur J. Gallagher & Co., said Wednesday it had reached a settlement with David Ross, the former CEO of its international operations, and two other executives.