HCC COMPLETES ITS ACQUISITION
OF UK BASED DEMONTFORT GROUP
HOUSTON (July 19, 2005) . . .
HCC Insurance Holdings, Inc. (NYSE symbol: HCC) announced today that the
Company had completed its acquisition of the DeMontfort Group of companies.
DeMontfort is an insurance company located near Leicester, England that
provides surety and credit insurance to small and medium size companies
throughout the UK and Ireland. Executive management Jim Davidson, Martyn
Ward and Nick Walklett head up a team of professionals at DeMontfort, which
has been in business for more than 22 years and is expected to underwrite
approximately ₤25 million in premium in 2005. For more information, visit
their website at www.demontfort.com.
Stephen L. Way, Chairman and Chief Executive Officer, commenting on the
transaction said, “We are very pleased to be able to expand our European
presence through this acquisition and believe that with the resources that
HCC can make available, DeMontfort will be able to further develop its
business and become the leading UK market in their specialty area.”
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 is traded on the NYSE (symbol:
HCC), has assets exceeding $6.0 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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