Philadelphia Insurance CEO Steps Aside, COO to Take Over
CEO Jamie Maguire vacates C-suite after 33 years at the company, but will remain chairman of the board.
Virtual Water Cooler, November 12, 2012
Chairman and CEO Jamie Maguire will be stepping aside as CEO of Philadelphia Insurance Co.s (PHLY), a P&C and professional liability insurance company for niche markets, at the end of this year. He will remain chairman of the board. Sean S. Sweeney, currently the company’s president and COO, will assume the title of president and CEO, effective Jan. 1, 2013.
PHLY says Maguire joined the company in 1996 as a VP of underwriting. He was named CEO in 2002, replacing his father, James J. Maguire Sr., who founded the company in 1962. Under Jamie Maguire’s leadership, PHLY received multiple Best Places to Work awards and saw revenues grow from $460 million to more than $2 billion, propelling its stock to a high of $61.50 before being acquired by the Tokio Marine Group. Maguire will continue to serve as PHLY’s chairman and as a member of its board of directors.
Sweeney started out as an account executive, says PHLY. He opened the company’s West Coast operations and was named executive VP and CMO in 1998. Sweeney was named president and CMO in 2010, before being promoted to COO in January 2012.
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