HCC FILES $1 BILLION
UNIVERSAL SHELF REGISTRATION
HOUSTON (May 25, 2006) . . .
HCC Insurance Holdings, Inc. (NYSE symbol: HCC) announced today it has
filed a “Universal Shelf” Registration Statement (the “Registration
Statement”) with the Securities and Exchange Commission. This Registration
Statement will replace the Company’s previously filed shelf registration
statements and under SEC rules, will become effective upon filing.
The Registration Statement covers shares of HCC’s common stock, senior or
subordinated debt securities and warrants, as well as trust preferred
securities to be issued under HCC’s Delaware business trusts (collectively,
the “Securities”). The Securities may be offered, separately or together, in
separate series, in amounts, at prices and on terms to be set forth in the
prospectus contained in the Registration Statement and in one or more
supplements to the prospectus and may only be offered pursuant thereto.
The Registration is intended to provide HCC flexibility to raise up to an
aggregate of $1,000,000,000 from the offering of Securities, subject to
market conditions and the Company’s capital needs. HCC does not have a
present intention to issue securities under the Registration Statement, but
potential future expansion of existing operations and possible M&A activity
may fuel the need for funds.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the Securities in any
state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities of any such state.
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 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.
|
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. |
|
* *
* * |
|
