HCC PROVIDES EARNINGS GUIDANCE
HOUSTON (January 28, 2003) . . .
HCC
Insurance Holdings, Inc. (NYSE symbol: HCC), announced today that the
Company expects net earnings of $0.50 for the fourth quarter and $1.67 for
the full year 2002. Guidance for the full year 2003 is a range of 20
percent to 30 percent increase over the 2002 result.
Stephen L. Way, Chairman and CEO, commented, “We had the best year in our
history in 2002 and expect to beat that result convincingly this year.
Without the industry issues of A&E, equity losses or capital inadequacies,
HCC is well positioned to succeed.”
HCC is an international insurance holding company and a leading specialty
insurance group. HCC has assets of $3.5 billion and its shares trade on
the NYSE (symbol: HCC), with a market capitalization of over $1.5 billion.
HCC is rated AA (Very Strong) by Standard & Poor’s and A+ (Superior) by
A.M. Best Company.
For more information, visit our website at
www.hcch.com.
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Contact:
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L. Byron Way, Vice
President
HCC Insurance Holdings, Inc.
Telephone: (713) 690-7300
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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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