Tokio Marine's Philadelphia Insurance Companies Acquires Collector Vehicle Business
Philadelphia Insurance Companies (PHLY) has acquired the Collector Vehicle Division from Ignyte Insurance, a Carlyle-backed portfolio company. The transaction, valued at $615 million, brings four of the most respected names in collector vehicle insurance into the PHLY family: American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly and Heacock Classic. The business is headquartered in Mt. Laurel, New Jersey.
With deep roots and decades of leadership in the collector vehicle market, these brands insure a broad range of specialty vehicles from antiques and hot rods to exotics, motorcycles, and classic trucks. Together, they serve hundreds of thousands of policyholders nationwide and bring more than 250 talented employees with significant expertise in this niche specialty segment.
This acquisition further strengthens PHLY's position as a key player in the collector and specialty vehicle insurance industry. Today's deal complements PHLY's longstanding partnership with the James A. Grundy Agency, based in Horsham, PA—a recognized leader in collector vehicle coverage. These iconic brands have a long-standing presence in the greater Philadelphia area, making this partnership a celebration of local leadership in the collector vehicle market.
"We have tremendous respect for what these collector vehicle brands have built and the trust they've earned amongst collectors," said John Glomb, President & CEO of Philadelphia Insurance Companies. "As part of PHLY, they will continue that legacy with the full strength of a leading carrier behind them, combining authenticity and expertise with innovation, superior claims support, and sustainable capacity for the long term."
Ignyte Insurance is a specialty insurance platform focused on building and scaling differentiated brands across high-growth niche markets. Ignyte was formed by the leadership team that previously built NSM Insurance Group into a more than $2 billion specialty powerhouse, led by CEO Geof McKernan, President Bill McKernan, and COO Marc Castellucci. Ignyte is now accelerating its strategy to expand world-class consumer and embedded insurance offerings worldwide.
About Philadelphia Insurance Companies
For over 60 years, Philadelphia Insurance Companies (PHLY) has delivered stability and peace of mind through enduring partnerships with customers, brokers and independent agents nationwide.
PHLY provides commercial property/casualty and professional liability coverages, comprehensive risk management and expert claims handling across 120+ specialized industries.
As a proud member of Tokio Marine Group, one of the largest insurance groups in the world, PHLY's exceptional financial strength has been independently validated through the highest ratings from AM Best Company ["A++" (Superior)] and Standard & Poor's ["A+"] since 2011.
PHLY is nationally recognized as a member of Ward's Top 50 since 2001, Business Insurance's Best Places to Work in Insurance since 2010 and ranked as one of America's Best Midsize Employers by Forbes.
Norbert Gehrke
