BALA CYNWYD, PA — Philadelphia Insurance Companies (PHLY) has entered the collector vehicle market in a major way, announcing the $615 million acquisition of the Collector Vehicle Division from Ignyte Insurance, a Carlyle-backed portfolio company.
The deal brings four of the most recognized names in collector and specialty vehicle insurance—American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly, and Heacock Classic—under the PHLY banner. Headquartered in Mt. Laurel, New Jersey, the group serves hundreds of thousands of policyholders across the country and employs more than 250 specialists in the niche segment.
The acquisition reinforces PHLY’s growing footprint in specialty insurance, particularly in the classic car space. It also strengthens its existing partnership with the James A. Grundy Agency of Horsham, Pennsylvania—another long-established player in the collector vehicle market.
“We have tremendous respect for what these collector vehicle brands have built and the trust they’ve earned amongst collectors,” said John Glomb, President and CEO of Philadelphia Insurance Companies. “As part of PHLY, they will continue that legacy with the full strength of a leading carrier behind them, combining authenticity and expertise with innovation, superior claims support, and sustainable capacity for the long term.”
Ignyte CEO Geof McKernan described the sale as “an exciting next chapter” for the brands his team spent years developing. “PHLY is a longtime specialty powerhouse with the resources, relationships, and stability to support continued growth and investment,” he said.
Carlyle executives Jim Burr and Jitij Dwivedi praised the transaction as a validation of Ignyte’s strategy to build value in complex specialty markets, calling it “an important milestone” in the company’s evolution.
Founded by former NSM Insurance Group leaders, Ignyte has positioned itself as a fast-growing platform for niche and consumer insurance brands. Following the sale, it plans to accelerate its global expansion in embedded and direct-to-consumer insurance offerings.
Legal counsel for the transaction included Troutman Pepper Locke LLP and Sullivan & Cromwell LLP for PHLY, and Wachtell, Lipton, Rosen & Katz for Carlyle and Ignyte, with additional advisory roles held by Polsinelli and Foley & Lardner LLP.
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