Incorporated in 1962, Philadelphia Insurance Companies (PHLY) has become a strong leader with the niche insurance markets; a leadership which has continued to spread into community outreach programs.
James J. Maguire Sr. is the Founder of Philadelphia Consolidated Holding Corporation. In 1980 Mr. Maguire formed the company, publicly traded under the name, Philadelphia Consolidated Holding Corporation, which today owns several subsidiaries including Maguire Insurance Agency, Inc., an insurance marketing company licensed in all states; Philadelphia Insurance Company, approved to write surplus lines insurance in 40 states; and Philadelphia Indemnity Insurance Company, its flagship company, licensed to write property and casualty insurance in all states.
In the fourth quarter of 2008, PHLY merged with The Tokio Marine Group, a leading Japanese insurer. The decision to join the Tokio Marine Group was based on the following factors: enhanced financial stability, competitive cultures, increased global presence, and the stable management structure at PHLY after the merger.
In total, PHLY has 49 offices and over 1,500 employees in all major markets across the U.S. from Maine to Hawaii. The Company, whose commercial lines insurance subsidiaries are rated A+ (Superior) by A.M. Best Company and AA- for counterparty credit and financial strength by Standard & Poor’s, is nationally recognized as a member of Ward's Top 50 and National Underwriter’s Top 100.
Mr. Maguire, a Korean War veteran, is a member of the Board of Managers for Beneficial Savings Bank and a past manger of the Board of Directors and Executive Committee for Pennsylvania Insurance Federation. He was the first lay Chairman of the Board of Cabrini College and past Vice Chairman of the Board of Saint Joseph's University where he chaired the capital campaign which built the University's Chapel dedicated in 1992.
Under Mr. Maguire's leadership, his company was active in Philadelphia Futures, a mentoring program for underprivileged intercity high school students. This participation funded five students who attended Saint Joseph's University. Other major non-profit programs which he and his company support and sponsor include the Pennsylvania School for the Deaf in Germantown, Mercy Vocational High School where they underwrite the business education program and participate in the school's co-op program, and St. Vincent's Shelter in Germantown, PA, a soup kitchen and summer camp for underprivileged children. Also, he and his family are major fundraisers for St. Vincent's Thanksgiving morning 5-mile "Turkey Trot" which has been run consecutively for the past decade.
Mr. Maguire and his wife, Frances, are residents of Chestnut Hill, PA. They are very proud of their 8 children, all of whom are college graduates. Two of their children graduated from Villanova University, one from Pennsylvania State, one from the University of Pennsylvania, one from Cabrini College, and three from Saint Joseph's University. Additionally, three of their children are executives in the Philadelphia Insurance Companies, with the oldest son, James J. Maguire, Jr., assuming the position of President and CEO in October of 2002. In February of 2010, James J. Maguire, Jr. was named Chairman and CEO.
