BALA CYNWYD, PA -- Philadelphia Insurance Companies (PHLY), a leading property and casualty insurance company for niche markets, is launching a new Surety Bond Division through a strategic alliance with Ullico Casualty Company and Ullico Casualty Group, Inc. (Ullico Casualty). PHLY can now offer surety bonds to contractors, sub-contractors and others in the contract and construction industries. PHLY will also offer selective commercial surety bonds.
"The goal of our new Surety Bond Division is to be one of the premier surety providers in the country," commented Chris Maguire, President & Chief Operating Officer of Philadelphia Insurance Companies. "PHLY's financial strength and extensive niche market experience, combined with our new Surety Division's network of agent relationships will provide excellent growth opportunities into new markets."
The new PHLY Surety Division will be led by Senior Vice President Edward Titus, who built Ullico Casualty into the 40th largest surety in the country. He brings with him a staff of nine from Ullico Casualty, who have more than 150 years of combined surety experience. The transition began on July 1, 2011 as Ullico Casualty's Surety business employees officially became members of the PHLY staff. PHLY will maintain a strategic relationship with Ullico Casualty, which will also serve as a producer for PHLY's commercial property and casualty products.
For more information, visit: http://www.phly.com/index.aspx