Meeker Sharkey Returns- Sharkey family launches new insurance/business financial services company and revives the storied Meeker Sharkey name.

Cranford, NJ (July 29, 2007) — Responding to recent developments in the insurance brokerage landscape, long-time insurance luminary Tom Sharkey, Sr. announces the launch of his now independently-owned commercial insurance and benefits-focused enterprise, returning under the long-standing, well-respected name of Meeker Sharkey Associates and heralding a positive change for the corporate community.

“There is an upheaval in today’s climate of insurance and benefits that is unraveling the industry and affecting businesses adversely,” said Sharkey, the Chairman of Meeker Sharkey Associates. “The real estate insurance market is eroding, health insurance premiums have increased by 50 percent, and large banks are rapidly divesting their commercial insurance divisions. These are just a few examples where a lack of client-focused practices has caused the market to stray from providing true comprehensive risk management strategies to companies and protecting their employees and investments properly. Today, I am re-launching Meeker Sharkey Associates to return to our roots of comprehensive client service, face and hopefully balance these market forces again.”

Prior to the sale of the company to Summit Bancorp in 2000, Meeker Sharkey was one of the largest U.S.-based risk management, insurance and employee benefits companies in the Northeast with over 250 employees and $1 billion in insurance premiums. The company’s history in the U.S. insurance industry as a market leader has brought businesses long-standing security through many of our country’s worst economic hardships, including two world wars, the Depression, the Vietnam war, Reaganomics, Persian Gulf War and so forth. In January of 2000, the company was bought by Summit Bancorp of Princeton, NJ and was one of five companies to merge with Summit’s Financial Services Group to create Summit Insurance Advisors, which at the time was one of the largest insurance brokerages. Sharkey’s son – Tom Sharkey, Jr. – was appointed Chief Executive of the new insurance unit.

The new Meeker Sharkey will focus primarily on commercial insurance brokerage and benefits, employing the latest online management systems for clients combined with total risk management assessments and brokerage services. The company backs its expertise in the industry with a highly-experienced staff of brokerage agents well-versed in the history and current climate of wellness programs, workplace benefits and loss control.

“Given the turbulent environment in the health insurance and benefits sector of our economy, we feel there is a real opportunity and market for a firm that understands and is able to advantageously leverage combined commercial risk management, insurance and benefit strategies for our clients,” said Sharkey.

About Meeker Sharkey
For over 100 years, Meeker Sharkey was a leading commercial and consumer focused insurance broker, serving leading national and international clients. With the Sharkey family at the helm, Meeker Sharkey rose to become one of the largest U.S.-based risk management, insurance and employee benefits companies until its sale to Summit Bancorp of Princeton, N.J. in January of 2000. Today, Tom Sharkey, Sr. has re-launched the new Meeker Sharkey, continuing the family tradition of dedicated agents, high-quality client experiences, personal attention and customized commercial risk management and benefit strategies for mid-market companies in the Tri-State region.

# # #