Philadelphia Insurance Companies (PHLY) has acquired the Collector Vehicle Division of Ignyte Insurance in a deal valued at $615 million, adding four established collector car insurance brands to its portfolio.
The acquisition includes American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly, and Heacock Classic, all based in Mt. Laurel, N.J. The businesses employ more than 250 people and serve hundreds of thousands of policyholders across the country.
The purchase expands PHLY’s presence in the collector and specialty vehicle insurance segment and builds on its existing relationship with the James A. Grundy Agency in Horsham, Pa, another well-known provider of collector
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