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Insurance Industry News from ProgramBusiness.comPhiladelphia Acquires Gillingham
Storefront owner Philadelphia Insurance Companies has announced that Philadelphia Consolidated Holding Corp. has acquired Gillingham & Associates, Inc., a program manager specializing in commercial property and casualty insurance for the outdoor recreation and hospitality industries.
Through this acquisition, PHLY expands its product offering for the outdoor recreation and hospitality industries. In addition to Campgrounds, RV Parks and Guides and Outfitters products, coverage will now also be provided for Fishing & Hunting Lodges, Resorts and Lodges, Dude and Guest Ranches, Hunting Preserves, Rod and Gun Clubs, Hunting Leases, Bed and Breakfasts, Shooting Ranges, Whitewater Rafting, ATV and Snowmobile Tours, and Trap, Skeet and Sporting Clay Ranges.
James J. Maguire, Jr., President and CEO, commented: "Gillingham has been a market leader in outdoor recreation and hospitality insurance since 1991 and we welcome their talented group of professionals to the PHLY team. With approximately $50 million of in-force premium, the acquisition of Gillingham presents a unique opportunity to expand PHLY's product portfolio and strengthen our position in this growing market segment."
Thomas A. Gillingham, President of Gillingham added: "PHLY has been a long-standing and respected competitor in the outdoor insurance marketplace, with a unique understanding of niche insurance programs. Joining forces will bring added financial strength, marketing resources, and expanded products and services to our agents and customers, allowing The Great Outdoors Insurance Program to continue to be a leader at providing superior insurance and risk management services to the outdoor recreation and hospitality industries."
For more information, visit their storefront at www.programbusiness.com.
In operation since 1962, PHLY designs, markets, and underwrites commercial property/casualty, professional liability and personal lines insurance products incorporating value added coverages and services for select industries. The Company, whose commercial lines subsidiaries are rated A+ (Superior) by A.M. Best Company, and A1 for insurance financial strength by Moody's Investors Service, is nationally recognized as a member of Ward's Top 50, Forbes' Platinum 400 list of America's Best Big Companies, and Forbes' 100 Best Mid-Cap Stocks in America. The organization has 45 offices strategically located across the United States to provide superior service.
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