Philadelphia Insurance Companies’ longtime leader Bob O’Leary will give up his CEO title at the end of 2020, with company President John Glomb on tap to succeed him.

O’Leary, who served 8 years as CEO and has spent nearly 40 years with the company, will stay on as chairman.

“I’ve had a lot of fun serving as CEO the past eight years, but now it’s time for a new era to begin,” O’Leary said in prepared remarks.

He said that Glomb is well-positioned to take over as CEO, in part because his “leadership and contributions have helped [Philadelphia Insurance Companies] grow in size and sustain its unique culture.”

Glomb joined Philadelphia Insurance Companies in 2007 as senior vice president of the Management and Professional Liability division. Since taking over as chief underwriting officer in 2011, the company launched new Surety, Corporate Underwriting, Environmental, Excess & Surplus, and Accident & Health divisions, as well as expanding operations to enhance underwriting for small businesses. Along with his role as president, he is also chief underwriting officer.

Glomb said in prepared remarks that he was excited to lead Philadelphia Insurance Companies into its “next chapter,” particularly after the last year and ongoing challenges created by the coronavirus pandemic.

“We’ve shown how resilient we are as a company this year, which fills me with optimism for the future,” Glomb shared.

O’Leary’s career began in 1982 when he joined the Maguire Insurance Agency – which later became Philadelphia Insurance Companies in 1987 – and helped establish the company’s Northeast Region in his hometown of Boston. He was part of the team that helped the company expand nationwide and eventually become a publicly-traded entity in 1993 before the Tokio Marine Group acquired it in December of 2008. Mr. O’Leary was named CEO in 2013 and Chairman in January.

Philadelphia Insurance Companies designs, markets and underwriters commercial property/casualty and professional liability insurance products for a number of industries.

Source: Philadelphia Insurance Companies