WAKEFIELD, Mass., Nov. 4, 2005 (PRIMEZONE) -- ASU International, Inc. (ASU), a specialty underwriting agency subsidiary of HCC Insurance Holdings, Inc. (NYSE:HCC), announced today that it has changed its corporate name to HCC Specialty Underwriters, Inc.
William F. Hubbard, Chief Executive Officer of HCC Specialty, commenting on the change said, "We have been part of the HCC Group for four years since their acquisition of ASU in October 2001, and we are excited about taking the Group name to help promote our business." Mr. Hubbard added, "Our specialty lines of business are growing in importance and with HCC's financial strength, we are able to offer greater capacity and security to our clients."
Founded in January 1982 as ASU International, HCC Specialty Underwriters is especially noted for pioneering non-traditional disability insurance products for professional athletes, entertainers and high profile individuals in the business world. The company has also emerged as the leading provider of unique contingency insurance products for the entertainment, sports industries and promotion marketing industries. In addition, the company provides risk management services to agencies and firms that design and execute sweepstakes, games and contests.
HCC Specialty Underwriters has expanded into the entertainment industry by acquiring feature film bonding company CineFinance Insurance Services LLC in December 2004 and by forming HCC Specialty Underwriters Agency of NY, Inc. a leading provider of property casualty insurance products to the entertainment industry in January 2005.
For more information visit the HCC Specialty website at www.hccsu.com.
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 has assets exceeding $6.6 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.
The HCC Insurance Holdings, Inc. company logo can be found at http://www.primezone.com/newsroom/prs/?pkgid=1977