Philadelphia Consolidated Reports Dennis Losses

Philadelphia Consolidated Holding Corp. has reported its initial estimate of losses attributable to Hurricane Dennis.

Although claims information is preliminary, the company estimates its net after-tax losses to be approximately $2.3 million. The company further announced that the catastrophe losses due to Hurricane Dennis primarily impacted its personal lines mobile homeowners and homeowners books of business.

Additionally, as a result of utilizing certain catastrophe reinsurance
coverage in connection with this hurricane event, the company will recognize approximately $1.0 million, after-tax, in catastrophe reinstatement premium expense during the third quarter 2005.