LUIS MARTINEZ DE LA FUENTE
TO REPRESENT HCC IN LATIN AMERICA
HOUSTON (February 27, 2006) . . .
HCC Insurance Holdings, Inc. (NYSE symbol: HCC)
announced today that
Luis R. Martinez de la Fuente has been retained as a consultant to assist
the Company’s planned international expansion in Latin America.
Mr. Martinez, who has residences in Mexico City and Miami, has been in the
insurance industry for over 40 years spending time with reinsurance and
insurance companies including Reaseguradora Patria, S.A, and Aseguradora
Mexicana, S.A. in Mexico City and over 25 years as a Reinsurance Broker,
representing several leading reinsurance brokers including the last 15 years
with Alexander Howden / Aon Re.
Stephen L. Way, Chairman and Chief Executive Officer of HCC, said, “Luis
Martinez is a unique individual with friends and business associates
throughout Latin America. He will be a valuable representative for the HCC
Group.”
HCC has been writing business for more than 30 years in many Central and
South American countries including Mexico, Colombia, Ecuador, Peru,
Argentina and Brazil. Lines of business currently written include aviation,
property, marine and energy. Expansion in these lines is expected with
additional growth from directors’ & officers’ liability and professional
indemnity. Current business is written through brokers and other insurance
companies primarily from HCC offices in Houston and London.
In connection with this planned expansion, the Company’s Barcelona based
subsidiary HCC Global Financial Products (International) S.A. is opening an
office in the Miami market where considerable Latin American business is
written. The Company is also contemplating opening offices in key locations
in the region and possibly expanding through acquisition.
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 $7.0 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.hcc.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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