HCC CLOSES MINORITY STAKE IN
HERITAGE UNDERWRITING AGENCY AT LLOYD’S
HOUSTON (March 14, 2006) . . .
HCC Insurance Holdings, Inc. (NYSE symbol: HCC)
announced today that
the Company had received regulatory and Lloyd’s approval to its previously
announced acquisition of 23.6% shareholding in Heritage Underwriting Agency,
Plc. and had closed the transaction for an undisclosed cash consideration.
Heritage is a Lloyd’s agency that manages Syndicates 1200 & 3245, which
underwrite property insurance and professional indemnity. Heritage is a
leading underwriter in worldwide property insurance, skillfully guided by
their chief underwriter Les Rock. For more information, visit their website
at
www.heritage-plc.com.
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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