HCC ANNOUNCES THREE PROMOTIONS
AT HCC SPECIALTY UNDERWRITERS
HOUSTON (April 14, 2008) . . .
HCC Insurance Holdings, Inc. (NYSE: HCC) announced today that HCC
Specialty Underwriters, Inc. (HCCSU), its specialty underwriting agency
involved in the sports, film, entertainment and promotion marketing
industries, has made three management promotions.
William F. Hubbard, President and Chief Executive Officer of HCC Specialty
Underwriters will be promoted to the position of Chairman. Succeeding
Hubbard as Chief Executive Officer will be HCCSU’s current Chief Financial
and Operating Officer, Matthew C. Overlan, while Senior Vice President Marc
D. Idelson will be promoted to President and Chief Underwriting Officer. All
three executives were previously with HCCSU’s predecessor company, American
Specialty Underwriters.
“These changes will enable HCC Specialty Underwriters to better pursue the
growth of its unique mix of niche businesses,” HCC Chief Executive Officer
Frank J. Bramanti said. “They will also support HCCSU’s strategy to
optimally position itself to capitalize on growth opportunities by adding
externally to existing lines of business and by expanding into complementary
areas.”
Hubbard has been with HCCSU since 1989. He served in several positions
during that time, including Director of the Contingency Division, Senior
Vice President of the Enterprise Division, and President and Chief Executive
Officer.
Overlan joined HCC Specialty Underwriters as Controller in 1998, became
Chief Financial Officer in 2001 and assumed the additional responsibilities
of Chief Operating Officer in 2004.
“During this time, Matt has played an instrumental role in the successful
acquisition and integration of multiple entities into the HCC Group,” HCCSU
Chairman Hubbard said.
Idelson began his insurance career in 1989, moving to HCCSU the next year.
He was named Vice President for underwriting personal accident and
contingency products in 1998, and promoted to Senior Vice President of North
American Underwriting in 1999.
“Marc is recognized as a leading expert in the sports disability,
contingency and film business,” Hubbard said.
Based in Wakefield, Massachusetts with offices in Los Angeles, New York City
and London, HCC Specialty Underwriters provides creative insurance products
for professional athletes, entertainers and other high profile individuals,
as well as for the film, entertainment, sports and promotion marketing
industries. A subsidiary of HCC Insurance Holdings, Inc., HCCSU also
provides risk management services to agencies and firms that design and
execute sweepstakes, games and contests.
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. (HCC) is a
leading international specialty insurance group with offices across the
United States and in Belgium, Bermuda, Ireland, Spain and the United
Kingdom. HCC has assets of nearly $8.1 billion, shareholders’ equity in
excess of $2.4 billion and is rated AA (Very Strong) by Standard & Poor’s
and AA (Very Strong) by Fitch Ratings. In addition, HCC’s domestic property
and casualty insurance companies are rated A+ (Superior) by A.M. Best
Company.
For more information, visit our website at
www.hcc.com.
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Contact:
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Barney White, HCC Vice President of
Investor Relations
Telephone: (713) 744-3719
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Forward-looking statements contained in this press
release are made under “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 and involve a number of
risks and uncertainties. The types of risks and uncertainties which
may affect the Company are set forth in its periodic reports filed
with the Securities and Exchange Commission. |
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