HCC INSURANCE HOLDINGS, INC.
INCREASES QUARTERLY CASH DIVIDEND BY 10 PERCENT
HOUSTON (September 20, 2007) . . .
HCC Insurance Holdings, Inc. (NYSE symbol: HCC) today announced its
45th consecutive quarterly cash dividend.
HCC’s Board of Directors approved a 10% increase in the regular quarterly
cash dividend from $0.10 to $0.11 per share on the Company's shares of $1.00
par value common stock. This dividend is payable to shareholders of record
on October 1, 2007 and will be paid on or about October 15, 2007. The
Company intends to continue to pay at least a $0.11 per share dividend in
each subsequent quarter.
Frank J. Bramanti, Chief Executive Officer, stated, “I am pleased to report HCC’s eleventh consecutive year of dividend increases. We will continue to
evaluate our capital management strategy and will take further actions, as
necessary, to maintain an appropriate level of capital to manage our
business while earning an appropriate return on equity for our
shareholders.”
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 of more than $7.9 billion,
shareholders’ equity of $2.2 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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Barney White
HCC Insurance Holdings, Inc.
Telephone: (713) 744-3719
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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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