S&P AFFIRMS AA (VERY STRONG) RATING FOR HCC
HOUSTON (May 11, 2004) . . .
HCC
Insurance Holdings, Inc. (NYSE symbol: HCC) announced today that
Standard & Poor’s have affirmed their AA (Very Strong) counterpart credit
and financial strength ratings for the HCC Insurance Holdings, Inc group of
insurance companies:
Houston Casualty
US Specialty Insurance Company
Avemco Insurance Company
HCC Specialty Insurance Company
HCC Europe
HCC Life Insurance Company
Recently acquired American Contractors Indemnity Company will be added to
the group rating shortly.
Stephen L. Way, Chairman and Chief Executive Officer, said, “We have been
able to keep this very strong rating and still achieve better than 14%
average return on equity over the past ten years.”
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 exceeding $5.0 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.
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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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