News Column

HCC Ratings Affirmed by Standard & Poor's With Stable Outlook

July 17, 2014



HOUSTON, July 17, 2014 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc.(NYSE:HCC) today announced that Standard & Poor's Corporation has affirmed the "AA (Very Strong)" financial strength ratings for its core insurance company subsidiaries and the "A" issuer credit rating for HCC Insurance Holdings, Inc. The outlook for these Standard & Poor's ratings is Stable.

"We are pleased that Standard & Poor's has affirmed HCC's ratings. The financial strength of HCC along with our commitment to consistent underwriting profitability remains a competitive strength and source of differentiation from our competitors," said Christopher J.B. Williams, HCC's Chief Executive Officer.

The "AA" financial strength ratings apply to the following insurance company subsidiaries:

Houston Casualty CompanyAvemco Insurance CompanyU.S. Specialty Insurance CompanyHCC Specialty Insurance CompanyHCC Life Insurance CompanyAmerican Contractors Indemnity CompanyUnited States Surety CompanyHCC International Insurance Company PLC

In addition, Standard & Poor's has affirmed HCC's Enterprise Risk Management (ERM) assessment of Strong.

Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. is a leading specialty insurer with offices in the United States, the United Kingdom, Spain and Ireland. As of March 31, 2014, HCC had assets of $10.6 billion and shareholders' equity of $3.8 billion. HCC's major domestic and international insurance companies have financial strength ratings of "AA (Very Strong)" from Standard & Poor's Corporation, "A+ (Superior)" from A.M. Best Company, Inc., "AA (Very Strong)" from Fitch Ratings, and "A1 (Good Security)" from Moody's Investors Service, Inc.

For more information about HCC, please visit http://www.hcc.com.

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.

CONTACT: Doug Busker, Director of Investor Relations HCC Insurance Holdings, Inc. Telephone: (713) 996-1192



company logo

Source: HCC Insurance Holdings, Inc.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: GlobeNewswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters