HOUSTON, March 14, 2006 (PRIMEZONE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that the Company had received regulatory and Lloyd's approval to its previously announced acquisition of 23.6% shareholding in Heritage Underwriting Agency, Plc. and had closed the transaction for an undisclosed cash consideration.
Heritage is a Lloyd's agency that manages Syndicates 1200 & 3245, which underwrite property insurance and professional indemnity. Heritage is a leading underwriter in worldwide property insurance, skillfully guided by their chief underwriter Les Rock. For more information, visit their website at www.heritage-plc.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 $7.0 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.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.
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