Philadelphia Insurance Companies completed the acquisition of the Collector Vehicle Division from Ignyte Insurance for $615 m.

Philadelphia Insurance Companies, a specialty commercial insurer, completed the acquisition of the Collector Vehicle Division from Ignyte Insurance, a specialty insurance platform, for $615 m. "We have tremendous respect for what these collector vehicle brands have built and the trust they've earned amongst collectors. 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," John Glomb, Philadelphia Insurance Companies President & CEO.