PHLY Philadelphia Consolidated Corp (MM)

BALA CYNWYD, Pa., July 8 /PRNewswire-FirstCall/ -- Philadelphia Insurance Companies (NASDAQ:PHLY) was selected to the 2008 Ward's 50 group of the top performing property-casualty insurance companies in the industry for the 8th year in a row. Ward Group, based out of Cincinnati, completed the in-depth review of approximately 3,000 property-casualty companies. Each Ward's 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed. The Ward's 50 property-casualty insurance companies produced an 18.7% return on average equity from 2003-2007 compared to 14.6% for the property-casualty industry overall. Commenting on the selection to Ward's Top 50, President & CEO James J. Maguire, Jr., said: "This recognition comes at a time in the insurance industry when consistent performance and solid security mean more than ever before. Today, policyholders and producers are seeking the best long-term partners for their insurance needs. We're pleased to once again be among this elite group of insurers." The Ward's 50 benchmarks are available in Ward's Results, an insurance industry financial reference series. To learn more about the Ward's 50 and Ward Group operational benchmarking and consulting services, visit http://www.wardinc.com/. In operation since 1962, PHLY designs, markets, and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries. The Company, whose commercial lines insurance subsidiaries are rated A+ (Superior) by A.M. Best Company and A1 for insurance financial strength by Moody's Investors Services, is nationally recognized as a member of Ward's Top 50, Forbes' Platinum 400 list of America's Best Big Companies and Forbes' 100 Best Mid-Cap Stocks in America. The organization has 47 offices strategically located across the United States to provide superior service. To locate your nearest office or for more information, visit us on the web at http://www.phly.com/ or contact Paula Negro at 800-873-4552 ext. 3227. DATASOURCE: Philadelphia Insurance Companies CONTACT: Paula Negro of Philadelphia Insurance Companies, +1-800-873-4552, ext. 3227 Web site: http://www.phly.com/ http://www.wardinc.com/

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