Exhibit 99.1

[Philadelphia Consolidated Holding Corp. Liberty Bell Graphic]
Philadelphia Consolidated Holding Corp.
One Bala Plaza
Suite 100
Bala Cynwyd, Pennsylvania 19004
610.617.7900 Fax: 610.617.7940

PHILADELPHIA CONSOLIDATED HOLDING CORP.
ANNOUNCES PROPOSED PUBLIC OFFERING

NOVEMBER 2, 2001 PRESS RELEASE


BALA CYNWYD, PA, November 2, 2001 -- Philadelphia Consolidated Holding Corp.
(PHLY-NASDAQ) announced today that it has filed a registration statement with
respect to a proposed public offering of an aggregate of 4,000,000 shares of its
common stock, 3,000,000 of which are being offered by the Company and 1,000,000
of which are being offered by James J. Maguire, the company's Chief Executive
Officer and Chairman of the Board of Directors. The Company intends to use its
net proceeds from the offering to provide additional capital for its insurance
subsidiaries and for general corporate purposes. The Company has granted the
underwriters an option to purchase up to 600,000 additional shares to cover
over-allotments.

The offering is being joint lead-managed by Merrill Lynch & Co. (bookrunner) and
Banc of America Securities LLC. A written preliminary prospectus relating to the
offering may be obtained from the underwriters.

A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of those securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state.

Forward-Looking Information

This release contains forward-looking statements that are based on management's
estimates, assumptions and projections. In connection with the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995, the Company
provides the following cautionary remarks regarding important factors which,
among others, could cause the Company's actual results and experience to differ
materially from the anticipated results or other expectations expressed in the
Company's forward-looking statements. The risks and uncertainties that may
affect the operations, performance, development, results of the Company's
business, and the other matters referred to above include, but are not limited
to: (i) changes in the business environment in which the Company operates,
including inflation and interest rates; (ii) changes in taxes, governmental laws
and regulations; (iii) competitive product and pricing activity; (iv)
difficulties of managing growth profitably; (v) catastrophe losses; and (vi) the
amount of time and extent of business interruptions and other losses resulting
from the terrorist attacks of September 11, 2001 and any future terrorist
attacks.

Philadelphia Insurance Companies, rated "A+ (Superior)" by A.M. Best Company,
markets and underwrites specialty property and casualty insurance products
through 36 proprietary underwriting offices across the U.S. of A.



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