Philadelphia Insurance acquires Ignyte Insurance’s Collector Vehicle business for $615m

Philadelphia Insurance Companies (PHLY) has announced the acquisition of the Collector Vehicle business from Ignyte Insurance, a Carlyle-backed portfolio company, in a transaction valued at $615m. This collector vehicle insurance acquisition brings four names – American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly and Heacock Classic – under the PHLY umbrella. The acquired business is headquartered in Mt. Laurel, New Jersey. With decades of experience in the collector vehicle market, these ...