Maguire: My father's greatest legacy has to be the successful people with whom he chose to partner throughout his business career. He has a unique ability to pick out goal-oriented leaders, then motivate them to achieve great things. Our history of success bears this out and today, we have among the most talented professionals in the insurance industry. In my role as chairman, I will continue to build on what my father created by enhancing our working environment and corporate culture, continuing to recruit and develop the best talent in the industry, and re-committing ourselves to being the leading provider of specialty insurance products and services across the U.S.

AA&B: How does Tokio Marine's ownership of Philadelphia position the company for future growth?

Maguire: Our new partnership with the Tokio Marine Group has been very positive insofar as it has aligned us with one of the largest and most prestigious insurance companies in the world. Very conservatively managed and highly successful, Tokio's backing of PHLY affords us the financial strength of a parent company with more than $150 billion in assets, AA S&P rating, A++ AM Best rating, all of which are extremely valuable, especially in these turbulent economic times.

AA&B: Were there cultural differences after the acquisition, and if so, how have they been addressed?

Maguire: After the acquisition, we've found that we have much more in common than what we have in the way of differences. Both of us share a commitment to being the best provider of specialized insurance products; we both believe that integrity, discipline and valuing the contributions of our employees form the basis of our successful corporate cultures; and we both have a passion for being a good corporate citizen and giving back to the communities we serve.

AA&B: What are your top 3 goals for the company in 2010?

Maguire: First, to make doing business with PHLY easier and more enjoyable. We already provide industry-leading service to our producers, customers and employees. I would like to raise the bar and re-define service expectations from our various constituents. Second, risk management has become "the" buzzword for this decade. I would like to enhance and improve our ability to measure, monitor and manage risk across our enterprise. We live in ever-changing times which present us with unique business challenges ranging from changing weather patterns to economic uncertainty. The insurance industry, more than any other, must be "out in front" and a leader in this important aspect of corporate governance. Third, we strive to remain an industry leader from a financial perspective. This includes, but isn't limited to, offering the best and most innovative coverages to our customers, maintaining adequate pricing across all product segments, and maintaining our conservative approach underwriting and investments.

AA&B: What is your independent agency distribution strategy for the next 5 years?

Maguire: Our distribution strategy is simple: to maximize the potential from each channel of distribution by providing superior products, the best security, unparalleled service, consistent pricing and fair compensation.

AA&B: What technology investments have you made to simplify agent access to the company?

Maguire: For the past 10 years we have made great strides in being a technology leader and have made doing business with PHLY fast and easy. We were among the first companies to offer policies on CDs, then moved to e-mailing PDFs. Innovation like that has set us apart from our competitors. Our Web site, our customers and producers can access virtually any information about their business including quote, policy, endorsement, billing and claims information. In addition, preferred agents can have their commissions ACH'd directly into their accounts, eliminating the time lag associated with paper commission checks. All this has been available for many years and we continually strive to improve the depth and breadth of our technology offerings.

AA&B: How do you anticipate the professional liability market changing over the next 5 years?

Maguire: I believe new exposures will continue to emerge which will provide opportunities for nimble and creative insurers. Companies which are slower to respond will miss out on new markets and new growth opportunities. The more agile companies will seize these opportunities and benefit accordingly. I also believe that the focus on enterprise risk management as a part of basic corporate governance, coupled with the backlash from recent Wall Street scandals, will incite better corporate controls and lower the incidence of claims across the professional liability field.

AA&B: What growth areas are you concentrating on for the future?

Maguire: When talking about growth, I think in terms of bottom-line profitability, not just top-line premium growth. Growth can be good, but if it's along the coast in a hurricane- prone area, it may not be profitable in the long term. Therefore, location and product play a role in determining growth. PHLY has typically outgrown its peer companies while still maintaining enviable combined ratios. To do this requires a coordinated effort among all functional areas of the company. We will grow across most of our product lines, and will emphasize those which deliver the best bottom line returns. This is in the best interest of not only our parent company, but also of our policyholders and business partners.