BROKER GROWS.

SAVANNAH, Ga. -- Regional insurance broker Palmer & Cay Inc. has been busy growing its business since the beginning of the year, acquiring a broker and two employee benefit units.

Last month, the Savannah, Ga.-based broker acquired Powell-Walton-Milward Inc. of Lexington, Ky. The consolidated Palmer & Cay will employ 560 people in 21 locations and will be ranked among the top 20 brokers in North America, John E. Cay III, Palmer & Cay's chairman and chief executive officer, said in a statement.

In 1998, Palmer & Cay ranked as the 23rd-largest broker of U.S. business, based on $43.3 million in revenue (BI, July 20, 1998).

In January, Palmer & Cay …