US-based Philadelphia Insurance Companies (PHLY) has acquired The Allen J. Flood Companies (AJF), which is the managing general agent for group accident and health insurance business.
Terms of the deal have not been disclosed.
Philadelphia Insurance Companies president and CEO Bob O’Leary said: "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."
Founded in 1959, AJF is involved in managing the marketing, underwriting, policy issue, billing and collection of premium functions on behalf of insurance companies.
The agency is specialized in the field of group accident and sickness insurance for unusual risks and is recognized by insurance companies, agents and brokers across the US.
AJF president Michael Flood will continue to manage the acquired business operations as the head of the A&H division under PHLY.
Flood said: "By joining the PHLY team, we significantly expand our brokerage network and we join a very talented group of insurance professionals."
PHLY designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries. It has 49 offices across the US.
Image: AJF is the managing general agent for group accident and health insurance business. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.