Fitch Affirms HCC Ratings With Stable Outlook
HOUSTON, March 27, 2013 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc.
(NYSE:HCC) today announced that Fitch Ratings has affirmed the Insurer
Financial Strength (IFS) ratings of "AA" for its insurance company
subsidiaries and the Issuer Default Rating (IDR) of "A+" for HCC Insurance
Holdings, Inc., including the debt rating of "A" on the holding company's $300
million 6.300% Senior Notes due 2019. All ratings were affirmed with a Stable
"We are pleased Fitch has affirmed HCC's ratings and believe these
affirmations reflect our underwriting discipline, financial strength and
consistent profitability throughout the market cycle," said Christopher J.B.
Williams, HCC's Chief Executive Officer.
These IFS ratings apply to the following insurance company subsidiaries:
*Houston Casualty Company
*Avemco Insurance Company
*U.S. Specialty Insurance Company
*HCC Specialty Insurance Company
*HCC Life Insurance Company
*Perico Life Insurance Company
*American Contractors Indemnity Company
*United States Surety Company
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 December 31, 2012, HCC had assets of $10.3 billion and
shareholders' equity of $3.5 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
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