Procentury 8-K ProCentury Corporation Declares Dividend of $0.04 per Share

Exhibit 99

ProCentury Corporation Declares Dividend of $0.04 per Share

COLUMBUS, Ohio, May 17 — ProCentury Corporation (Nasdaq: PROS), a specialty property and casualty insurance holding company, today announced that its Board of Directors has approved a cash dividend of $0.04 per share. The dividend will be payable on June 6, 2007 to stockholders of record on May 24, 2007.

About ProCentury Corporation

ProCentury Corporation (Nasdaq: PROS) is a specialty property and casualty insurance holding company. Its subsidiary, Century Surety Company, underwrites general liability, commercial property, and multi-peril insurance for small and mid-sized businesses. Century Surety Company primarily writes excess and surplus lines insurance and markets its products through a select network of general agents.

Source: ProCentury Corporation

Contact: Jeff Racz, 614-823-6302