Kaye Names Marc Cohen President of Three Units

Kaye Group Inc. has promoted Marc Cohen from senior vice president to president of three of the company's subsidiaries, Program Brokerage Corporation, Old Lyme Insurance Company of Rhode Island, and Claims Administration Corporation. He has also been elected a director of Old Lyme Insurance Company, Ltd., the company's Bermuda subsidiary.

Cohen will continue to report to Bruce Guthart, chairman, president & chief executive officer of Kaye Group, who remains chairman of the subsidiaries.

In making the announcement, Guthart said, ``It is a pleasure to recognize Marc Cohen's important contribution to the growth of our wholesale program administration, underwriting, and claims operations with these appointments. With the support of his excellent staff, he has been instrumental in the dynamic growth of this segment of our business.

"Under Marc's management during the past three years Program Brokerage Corporation and Old Lyme Insurance Company of Rhode Island have generated $100 million in revenue," he continued. Marc has also managed the growth in the number of PBC programs from nine in 1995 to over 25 to date. The number of brokers in the distribution network through which PBC sells programs stands at over 500 today, double the number of three years ago.''

Cohen began his insurance career in the company's training program upon his 1988 graduation from The State University of New York-Albany.

Guthart said, ``Marc is an excellent example of the kind of home-grown leadership we wish to foster at the company. He started with us and has consistently performed with distinction as his responsibilities broadened. We look forward to his further contributions to the company's growth as president of these subsidiaries.''