8-K

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) January 31, 2002

PMA Capital Corporation
(Exact name of registrant as specified in its charter)

Pennsylvania
(State or other jurisdiction
of incorporation) 000-22761
(Commission
File Number) 23-2217932
(IRS Employer
Identification No.)

1735 Market Street, Suite 2800
Philadelphia, Pennsylvania
(Address of principal executive offices)  
19103-7590
(Zip Code)

Registrant's telephone number, including area code:

(215) 665-5046

Not Applicable
(Former name or former address, if changed since last report)

Item 9. Regulation FD Disclosure.

        The Company expects to release its fourth quarter 2001 financial results on Wednesday, February 6, 2002. On the same day, the Company’s management will hold a conference call to review the fourth quarter and full year 2001 results along with their outlook for 2002. Details about the expected release and conference call, including information on how to access the conference call via the internet, are provided in a press release attached as Exhibit 99 to this Form 8-K and are incorporated into this Item 9 by reference.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Oral statements made by individuals authorized to speak on behalf of PMA Capital Corporation (the “Company”) during the conference call that are not historical facts are forward-looking statements and are based on estimates, assumptions and projections. Actual results may differ materially from those projected in the forward-looking statements.

These forward-looking statements are based on currently available financial, competitive and economic data and the Company’s current operating plans based on assumptions regarding future events. The Company’s actual results could differ materially from those expected by the Company’s management. The factors that could cause actual results to vary materially, some of which are described with the forward-looking statements, include, but are not limited to:

• changes in general economic conditions, including the performance of financial markets, interest rates and the level of unemployment;

• regulatory or tax changes, including changes in risk-based capital or other regulatory standards that affect the cost of or demand for the Company’s products or otherwise affect the ability of the Company to conduct its business;

• competitive conditions that may affect the level of rate adequacy related to the amount of risk undertaken and that may influence the sustainability of adequate rate changes;

• ability to implement and maintain rate increases;

• the effect of changes in workers’compensation statutes and their administration, which may affect the rates that we can charge and the manner in which we administer claims;

• the Company's ability to predict and effectively manage claims related to insurance and reinsurance policies;

• the lowering or loss of one or more of the financial strength or claims paying ratings of the Company's insurance subsidiaries;

• adequacy of reserves for claim liabilities;

• adverse property and casualty loss development for events the Company insured in prior years;

• the uncertain nature of damage theories and loss amounts and the development of additional facts related to the attack on the World Trade Center;

• uncertainty as to the price and availability of reinsurance on business we intend to write in the future, including reinsurance for terrorist acts;

• adequacy and collectibility of reinsurance purchased by the Company;

• severity of natural disasters and other catastrophes;

• reliance on key management; and

• other factors disclosed from time to time in the Company’s most recent Forms 10-K, 10-Q and 8-K filed by the Company with the Securities and Exchange Commission.

Investors should not place undue reliance on any forward-looking statements. Unless otherwise stated, the Company disclaims any current intention to update forward-looking information and to release publicly the results of any future revisions we may make to forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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SIGNATURES

        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.

	PMA Capital Corporation
Date: February 1, 2002	By: /s/ Francis W. McDonnell
	Francis W. McDonnell
	Senior Vice President, Chief
	Financial Officer and Treasurer

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Index to Exhibits

Number	Description	Method of Filing
(99)	Additional Exhibits:
99	PMA Capital Corporation news release dated January 31, 2002	Filed herewith

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EX-99

Exhibit 99

PMA CAPITAL [LOGO]
A Specialty Risk Management Company

Mellon Bank Center Suite 2800
1735 Market Street
Philadelphia, PA 19103-7590

PRESS RELEASE

For Release: Immediate

      Contact: Albert D. Ciavardelli
                    (215) 665-5063

PMA Capital to Release Fourth Quarter Results and
Hold Conference Call on February 6

Philadelphia, PA, January 31, 2002 – PMA Capital Corporation (NASDAQ: PMACA) expects to release its fourth quarter 2001 financial results on Wednesday, February 6, 2002 at approximately 4:15 p.m. Eastern Standard Time (EST). At that time, a copy of the Company’s news release and statistical supplement will be available on the Company’s website at www.pmacapital.com in the Investor Information section (please use the News Releases button to access the release and the Financial Report button to access the supplement).

Beginning at 5:30 p.m. EST that same day, management will hold a conference call to review the fourth quarter and full year 2001 results along with their outlook for 2002. The conference call will be available via a live webcast over the Internet at www.pmacapital.com. Simply enter the Investor Information section, click on News Releases to find this announcement and then click on the microphone next to this release. Please note that by accessing the conference call via the Internet, you will be in a listen-only mode.

The call-in numbers for the conference call are as follows:

Live Call	Replay
877-679-9054 (Domestic)	800-615-3210 (Domestic)
952-556-2807 (International)	703-326-3020 (International)

The passcode for the replay is 5805180. The replay will be available from 8:30 p.m. EST on Wednesday, February 6th until 11:59 p.m. EST on Friday, February 8th.

PMA Capital Corporation, headquartered in Philadelphia, Pennsylvania, is an insurance holding company, whose operating subsidiaries provide specialty risk management products and services to customers throughout the United States. The primary product lines of PMA Capital’s subsidiaries include: 1) property and casualty reinsurance, underwritten and marketed through PMA Re; 2) workers’ compensation, integrated disability and other commercial property and casualty lines of insurance in the Mid-Atlantic and Southern regions of the United States, underwritten and marketed under the trade name The PMA Insurance Group; and 3) excess and surplus lines coverages, underwritten and marketed by Caliber One.

For more information about PMA Capital and its specialty insurance businesses, please visit us on the Internet at www.pmacapital.com