The deal will give PHLY a new platform for GroupAccident & Health insurance products.
BalaCynwyd,PA,June12, 2015–Philadelphia Insurance Companies (PHLY), a leading commercial property/casualty and professional liability insurance company for niche markets, announces the acquisition of all outstanding shares of The Allen J. Flood Companies (AJF), a managing general agent forGroup Accident &Health insurance business.
The acquisition is intended to give PHLY a new platform to provide Group A&H products to a variety of niche markets that it currently serves, including schools, non-profits, volunteer groups, sports teams, and many others.
“AJF is a first class operation and we’re lucky to add them to our PHLY team. Their A&H expertise complements many of our niche products,” said Bob O’Leary, president and CEO of Philadelphia Insurance Companies.
Based in Larchmont, NY, AJFhas been serving agents, brokers, and customers since 1959. The agency maintains a strong reputation for its customer-oriented service and expertise. AJF will continue to serve its agents, brokers, and customers, while growing the business by utilizing PHLY’s national marketing network. Michael Flood, who has been President of AJF since 2011, will continue leading AJF’s operation as the head of the A&H division for PHLY.
“By joining the PHLY team, we significantly expand our brokerage network and we join a very talented group of insurance professionals. We’re very excited about this opportunity,” shared Michael Flood.
AboutPhiladelphiaInsurance Companies (PHLY)
Philadelphia InsuranceCompanies designs, markets, and underwrites commercial property/casualty and professional liabilityinsurance 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 amember of Ward’s Top 50, National Underwriter’s Top 100, and one of the Top 150 Workplaces in America. Policies are underwritten by Philadelphia Indemnity Insurance Company and Tokio Marine Specialty Insurance Company.The organization has 49 offices strategically located across the United States to provide superior service. For more information, please visit www.PHLY.com.
About Allen J. Flood Companies (AJF)
Established in 1959, AJF is recognized nationally by insurance companies, agents and brokers as an outstanding and truly unique Managing General Agency. AJF is known for the in-depth product knowledge, dependability and flexibility in the highly specialized field of Group Accident & Sickness Insurance for Unusual Risks. AJF has the capability to manage the marketing, underwriting, policy issue, billing & collection of premium functions on behalf of insurance companies. AJFdelivers its products and services through thousands of agents and brokers across the country. AJF’s agents and brokers come to AJF because it provides professional, courteous service and competitive, stable markets. See more at www.ajfusa.com.
For Release: Immediate
Contact: Bill Procopio
Corporate Communications Manager