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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


          Date of Report (Date of earliest event reported): May 4, 1998


                     Philadelphia Consolidated Holding Corp.
             (Exact name of Registrant as specified in its charter)


         Pennsylvania                0-22280                    23-2202671
 (State or other juris-            (Commission                (IRS Employer
 diction of incorporation)          File No.)               Identification No.)


               One Bala Plaza, Suite 100
                Bala Cynwyd, PA                                   19004
         (Address of principal executive offices)               (Zip Code)



       Registrant's telephone number, including area code: (610) 617-7900


          (Former name or former address, if changed since last report)

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ITEM 5.  OTHER EVENTS.

         The Registrant is filing this Current Report on Form 8-K solely for the
purpose of filing the Exhibit listed in Item 7(c) below.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

         (a)      Financial Statements of Business Acquired.

                  Not applicable.

         (b)      Pro Forma Financial Information.

                  Not applicable.

         (c)      Exhibits.

                  Exhibit 99.1 Press Release dated May 4, 1998.


                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                        Philadelphia Consolidated Holding Corp.
                                        (Registrant)


Date: May 13, 1998                      By:  /s/ Craig P. Keller
                                             --------------------------------
                                             Craig P. Keller
                                             Vice President, Secretary and
                                             Chief Financial Officer


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                                  EXHIBIT INDEX


Exhibit    Description                          Method of Filing
99.1       Press Release dated May 4, 1998.     Filed electronically herewith.


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