Philadelphia Insurance Companies (PHLY) announced the acquisition of the Collector Vehicle Division from Ignyte Insurance, a Carlyle-backed portfolio company. The transaction is valued at $615 million and adds four collector vehicle brands — American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly, and Heacock Classic — to PHLY’s portfolio. The business is headquartered in Mt. Laurel, New Jersey.
Strengthening PHLY’s Collector Vehicle Presence
These brands have decades of experience insuring specialty vehicles, including antiques, hot rods, exotics, motorcycles, and classic trucks. Together, they serve hundreds of thousands of policyholders nationwide and bring more than 250 employees with expertise in this niche segment. The acquisition aligns with PHLY’s longstanding partnership with the James A. Grundy Agency in Horsham, Pennsylvania, and highlights the brands’ long-standing presence in the greater Philadelphia area.
Statements from Leadership
- John Glomb, President & CEO of PHLY, said the brands have earned trust among collectors and will continue their legacy with the support of a leading carrier — combining authenticity and expertise with innovation, claims support, and sustainable capacity.
- Geof McKernan, CEO of Ignyte Insurance, called it an exciting next chapter for the brands, noting PHLY’s resources, relationships, and stability to support continued growth and investment.
- Carlyle’s Jim Burr, Co-Head of Global Financial Services, and Jitij Dwivedi, Partner, said the sale marks an important milestone for Ignyte and reflects long-term value creation within the MGA ecosystem. They plan to continue working with Ignyte to grow its remaining direct-to-consumer brands.
Ignyte Insurance is a specialty insurance platform focused on building and scaling differentiated brands across high-growth niche markets. Formed by leaders who built NSM Insurance Group, Ignyte reports $4 billion in executed transactions and a diversified portfolio representing $650 million in premium, including travel medical, international student health, leased equipment, and specialist MGA platforms.
Philadelphia Insurance Companies (PHLY), a member of Tokio Marine Group, provides commercial property/casualty and professional liability coverages, risk management, and claims handling across 120+ specialized industries. PHLY holds AM Best “A++” (Superior) and Standard & Poor’s “A+” ratings since 2011 and has been recognized by Ward’s Top 50 since 2001, Business Insurance’s Best Places to Work in Insurance since 2010, and Forbes’ America’s Best Midsize Employers.
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