James J. Maguire, founder of Philadelphia Insurance Cos., will retire as chairman of the board of directors effective January 1, 2010. Jamie Maguire, PHLY’s president and CEO, will succeed James J. Maquire as chairman.
James 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, the company said.
James J. Maguire founded Maguire Insurance Agency just four years after college. His first big success was his connection with the Pennsylvania School for the Deaf, a niche market and organization to which he remains committed to this day. In 1987, he formed Philadelphia Consolidated Holding Corp., publicly traded as PHLY (NASDAQ), which owns Maguire Insurance Agency Inc., Philadelphia Insurance Company and Philadelphia Indemnity Insurance Company, its flagship company operating in all 50 states and the District of Columbia.
In 2002, and after 41 years at the helm, James J. Maguire named his son, Jamie Maguire as president and CEO. Then, late last year, Philadelphia Insurance Companies was acquired by Tokio Marine Holdings.
Source: Philadelphia Insurance Companies, www.phly.com
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