PHLY’s financial strength and extensive niche market experience, combined with our new Surety Division’s network of agent relationships, will provide excellent growth opportunities into new markets.
Bala Cynwyd, PA (PRWEB) July 11, 2011
Philadelphia Insurance Companies (PHLY), a leading property and casualty insurance company for niche markets, is launching a new Surety Bond Division through a strategic alliance with Ullico Casualty Company and Ullico Casualty Group, Inc. (Ullico Casualty). PHLY can now offer surety bonds to contractors, sub-contractors and others in the contract and construction industries. PHLY will also offer selective commercial surety bonds.
“The goal of our new Surety Bond Division is to be one of the premier surety providers in the country,” commented Chris Maguire, President & Chief Operating Officer of Philadelphia Insurance Companies. “PHLY’s financial strength and extensive niche market experience, combined with our new Surety Division’s network of agent relationships, will provide excellent growth opportunities into new markets.”
The new PHLY Surety Division will be led by Senior Vice President Edward Titus, who built Ullico Casualty into the 40th largest surety in the country. He brings with him a staff of nine from Ullico Casualty, who have more than 150 years of combined surety experience. The transition began on July 1, 2011 as Ullico Casualty’s Surety business employees officially became members of the PHLY staff. PHLY will maintain a strategic relationship with Ullico Casualty, which will also serve as a producer for PHLY’s commercial property and casualty products.
About Philadelphia Insurance:
Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets, and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries. In operation since 1962, the Company, whose commercial lines insurance subsidiaries are rated A+ (Superior) by A.M. Best Company and A+ for counterparty credit and financial strength by Standard & Poor’s, is nationally recognized as a member of Ward's Top 50. The organization has 46 offices strategically located across the United States to provide superior service. To locate the office nearest you or for more information, visit us on the web at http://www.phly.com.
Philadelphia Insurance Companies is the marketing name for the property and casualty operations of Philadelphia Consolidated Holding Corp. In the United States, all products are written by insurance company subsidiaries of Philadelphia Consolidated Holding Corp. Coverage may not be available in all jurisdictions and is subject to actual policy language.
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