LARRY A. GOANOS NAMED PRESIDENT OF
HCC UNDERWRITING AGENCY SUBSIDIARY
HOUSTON (February 28, 2007) . . .
HCC Insurance Holdings, Inc. (NYSE symbol: HCC) announced today that
Larry A. Goanos will join its expanding underwriting agency subsidiary
Professional Indemnity Agency (PIA), based in Mount Kisco, New York, as
President. In this capacity, Mr. Goanos will be primarily responsible for
the management and growth of PIA’s underwriting operations.
Commenting on the announcement, Cory L. Moulton, Chief Executive Officer of
PIA, said, “Larry brings a unique combination of brokerage and underwriting
experience to PIA. His proven track record of growing insurance businesses,
along with his many relationships and broad expertise will be valuable
additions to PIA and HCC.”
Mr. Goanos received a BA from Villanova University and a JD from Boston
College Law School. He began his career as defense counsel at D’Amato &
Lynch before starting his underwriting career at AIG and eventually assuming
responsibility for ACE USA’s national D&O and Financial Institution E&O
practices. He joins PIA from Marsh USA where he served as a Managing
Director of the FINPRO Division.
Since being acquired by HCC in 2001, PIA’s business has grown over 300%.
Besides continued growth in its existing businesses, PIA has grown by
acquisition including RA&MCO in 2004 and Kenrick in 2006. RA&MCO is a
significant factor in Architect & Engineers E&O insurances and Kenrick has a
long history as a specialist insurer of Municipalities.
PIA (www.piaint.com)
underwrites specialty insurance products including professional indemnity,
directors’ & officers’ liability, municipality, employment practices
liability, product recall and kidnap & ransom insurance. PIA will write
approximately $350 million in premium in 2007 across its various lines of
business.
Headquartered in Houston, Texas, HCC is a leading international specialty
insurance group with offices across the United States and in Bermuda, Spain,
Ireland, and the United Kingdom. HCC has assets exceeding $7.5 billion,
shareholders’ equity of over $2 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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