HCC ANNOUNCES THE FORMATION
OF HCC SURETY GROUP
HOUSTON (June 21, 2004) . . .
HCC
Insurance Holdings, Inc. (NYSE symbol: HCC) announced today the
formation of HCC Surety Group (HCCS) which will be the platform for the
expansion of its surety business in the USA, with Robert F. Thomas as Chief
Executive Officer.
HCCS will underwrite on behalf of American Contractors Indemnity Company (ACIC)
acquired in February this year and U.S. Specialty Insurance Company, another
HCC subsidiary. HCCS will specialize in writing sureties for small
contractors, court appointed executors & trustees, license & permit, bail
bonds and other small surety business on a national basis.
Stephen L. Way, Chairman and Chief Executive Officer of HCC, said," We plan on expanding our surety business both organically and
through acquisition, under the HCC Surety banner." Mr. Way added, "ACIC has
been successfully integrated into HCC and its management team ably lead by
Bob Thomas, will run operations at HCC Surety.”
HCC is an international insurance holding company and a leading specialty
insurance group since 1974, based in Houston, Texas with offices across the
USA and in Bermuda, England and Spain. HCC has assets of more than $5
billion, shareholders’ equity of over $1 billion and 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.
|
Contact:
|
L. Byron Way, Vice
President
HCC Insurance Holdings, Inc.
Telephone: (713) 690-7300
|
|
|
|
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. |
|
* *
* * |
|
