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 7, 2003







                            PENN-AMERICA GROUP, INC.
            (Exact name of registration as specified in this charter)







         Pennsylvania                     0-22316              23-2731409
(State or other jurisdiction of       (Commission File      (I.R.S. Employer
incorporation or organization)            Number)           Identification No.)



420 S. York Road, Hatboro, Pennsylvania                   19040
(Address of principal executive offices)               (Zip Code)


Registrant's telephone number, including area code:   (215) 443-3600







Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

(c)  Exhibits


99.1 Presentation materials delivered by Jon Saltzman and Joe Morris at investor
meetings on May 7, 2003.

Item 9.  Regulation FD Disclosure

On May 7, 2003,  Jon  Saltzman,  President and CEO and Joseph  Morris,  Sr. Vice
President,  CFO and  Treasurer  of  Penn-America  Group,  Inc.  (the  "Company")
presented to various groups of investors in and around the Boston, Massachusetts
area. The presentation materials are attached as an exhibit.



                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) 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.

                                           PENN-AMERICA GROUP, INC.



Date:  May 9, 2003
                                           BY: /s/ Joseph F. Morris
                                           Joseph F. Morris
                                           Vice President, CFO and Treasurer