James Maguire to retire as chairman effective from January 1, 2010

Philadelphia Insurance Companies (PHLY) has appointed Jamie Maguire, president and CEO, as new chairman. He will succeed founder James Maguire, who will retire as chairman of the board of directors effective from January 1, 2010.

Jim Maguire founded Maguire Insurance Agency in 1962. His first big success was his connection with the Pennsylvania School for the Deaf, a niche market and organization. In 1987, he formed Philadelphia Consolidated Holding, which owns Maguire Insurance Agency.

In 2002, Mr Maguire named his son Jamie Maguire as president and CEO. Then, late last year, Philadelphia Insurance Companies was acquired by Tokio Marine Holdings.

Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets, and underwrites commercial property/casualty and professional liability insurance products.

Jamie Maguire, said: “My father has been a true pioneer and entrepreneur in the insurance industry. I am very fortunate and proud to have worked by his side and I will continue to seek his counsel on complex business matters. He will continue to serve on PHLY’s board of directors and will devote more time to his philanthropic endeavors through his charitable organization, The Maguire Foundation.”