HOUSTON, July 19, 2005 (PRIMEZONE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that the Company had completed its acquisition of the DeMontfort Group of companies.
DeMontfort is an insurance company located near Leicester, England that provides surety and credit insurance to small and medium size companies throughout the UK and Ireland. Executive management Jim Davidson, Martyn Ward and Nick Walklett head up a team of professionals at DeMontfort, which has been in business for more than 22 years and is expected to underwrite approximately BPS25 million in premium in 2005. For more information, visit their website at www.demontfort.com.
Stephen L. Way, Chairman and Chief Executive Officer, commenting on the transaction said, "We are very pleased to be able to expand our European presence through this acquisition and believe that with the resources that HCC can make available, DeMontfort will be able to further develop its business and become the leading UK market in their specialty area."
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 is traded on the NYSE (symbol:HCC), has assets exceeding $6.0 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.hcch.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.