After a decade as the leader of Philadelphia Insurance Cos., CEOJamie Maguire is stepping down.

Macguire was named CEO in 2002. He replaced his father, James J.Maguire Sr., who founded the company in 1962.

According to statement from the company, current President andCOO Sean S. Sweeney will take over as CEO starting Jan. 1,2013.

National Underwriter recently published a featureon Philadelphia Insurance (PHLY):

Meet the New Boss: Benefits of the Tokio MarineAcquisition

Niche Rich: Philadelphia's Strategy Centers on Discovering,Dominating Specialized Coverages

PHLY to Ramp Up E&S Lines

“I am extremely proud to have been CEO of PHLY for the pastdecade, accomplishing many milestones and achieving incrediblegrowth and profitability during that time,” says Maguire in astatement. “I am also extremely proud of the employees that havebeen integral to PHLY's success.

“While leaving PHLY's day-to-day operations is bittersweet forme, I remain dedicated to PHLY and its success. I can think of noone better than Sean to continue PHLY's work and chart PHLY'scourse for the future.”

Maquire joined PHLY in 1996 as its vice president ofunderwriting. Under his leadership PHLY grew revenues grow from$460 million to more than $2 billion.

Sweeney has a PHLY pedigree as well, credited with opening itsWest Coast operations after starting with the company as an accountexecutive. He was named executive vice president and chiefmarketing officer in 1998, president and CMO in 2010, and COO inJanuary 2012.

Tokio Marine Holdings Inc. bought Philadelphia ConsolidatedHolding Corp. for $4.8 billion in July 2008.