0000950133-01-502679.txt : 20011009
0000950133-01-502679.hdr.sgml : 20011009
ACCESSION NUMBER: 0000950133-01-502679
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20010921
ITEM INFORMATION: Other events
ITEM INFORMATION: Financial statements and exhibits
FILED AS OF DATE: 20010925
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: PHILADELPHIA CONSOLIDATED HOLDING CORP
CENTRAL INDEX KEY: 0000909109
STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331]
IRS NUMBER: 232202671
STATE OF INCORPORATION: PA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-22280
FILM NUMBER: 1744492
BUSINESS ADDRESS:
STREET 1: ONE BALA PLAZA
STREET 2: SUITE 100
CITY: WYNNEWOOD
STATE: PA
ZIP: 19004
BUSINESS PHONE: 6106428400
MAIL ADDRESS:
STREET 1: ONE BALA PLAZA
STREET 2: SUITE 100
CITY: BALA CYNWYD
STATE: PA
ZIP: 19004
FORMER COMPANY:
FORMER CONFORMED NAME: MAGUIRE HOLDING CORP
DATE OF NAME CHANGE: 19930714
8-K
1
w53506e8-k.txt
PHILADELPHIA CONSOLIDATED HOLDING CORP. FORM 8-K
1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): September 21, 2001
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Philadelphia Consolidated Holding Corp.
--------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Pennsylvania 0-22280 23-2202671
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(State or Other Jurisdiction (Commission (IRS Employer'
of Incorporation) File Number) Identification No.)
One Bala Plaza, Suite 100, Bala Cynwyd, PA 19004
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (610) 617-7900
--------------
2
ITEM 5. OTHER EVENTS.
The Registrant is filing this Current Report on Form 8-K solely for the purpose
of providing the supplementary data set forth in 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 September 21, 2001
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.
Philadelphia Consolidated Holding Corp.
-------------------------------
(Registrant)
Dated: September 25, 2001 By: /s/ Craig P. Keller
-------------------------------------------
Craig P. Keller
Senior Vice President, Secretary, Treasurer
and Chief Financial Officer
3
EXHIBIT INDEX
Exhibit Description Method of Filing
------- ----------- ----------------
99.1 Press Release dated September 21, 2001 Filed electronically herewith.
EX-99.1
3
w53506ex99-1.txt
PRESS RELEASE DATED SEPTEMBER 21, 2001
1
PHILADELPHIA CONSOLIDATED HOLDING CORP.
ESTIMATE OF LOSSES RESULTING FROM
SEPTEMBER 11, 2001 TERRORIST ATTACKS
SEPTEMBER 21, 2001 PRESS RELEASE
--------------------------------------------------------------------------------
Bala Cynwyd, PA - Philadelphia Consolidated Holding Corp. (NASDAQ: PHLY) (the
"Company") today announced its estimate of its total expected losses resulting
from the September 11, 2001 WTC terrorist attacks. Based upon information
available at this time, the Company's net pretax losses are expected to
approximate $1.5 to $2.0 million.
Prior to these terrorist attacks, the Company was performing in line with the
First Call consensus estimate for the third quarter of $0.45 per share. However,
the Company's losses related to this tragic event could reduce net income by
$0.05 to $0.07 per share.
The Company's largest exposure potentially comes from business interruption
losses. Additional potential exposures include business personal property
(contents), business property, workers' compensation and other liability losses.
James J. Maguire, CEO said, "Aside from the relatively small financial loss the
Company has experienced, the immeasurable loss of our friends and business
associates has left me and our Company with a deep sense of loss and sorrow. We
pray that the families, friends and business associates left to carry on, find
strength, resolve and grace to rebuild their lives and their companies."
2
Press Release
September 21, 2001
Page 2
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 the business interruptions and other losses
resulting from the terrorists attacks referred to above.
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.